Patience, investor
Chevron’s bet on big-ticket projects will pay off, eventually
The Gorgon liquefied natural gas project limped into service in March, a year late and over budget. The timing hardly seemed propitious: with oil and natural gas prices still so low, who needs another Australian LNG plant – especially one costing $54bn? Well, Chevron does; the company has an oilier asset base than rivals such as Shell and ExxonMobil. Gorgon – almost 50% owned by Chevron – beefs up the company’s exposure to gas. Trains two and three should come on stream at six-month intervals, bringing the plant towards its design capacity of 15.6m tonnes a year. More LNG will become available from mid-2017, when production starts at Wheatstone – an 8.9m-t/y, two-train plant owned 64.14% by
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The 25th WPC Energy Congress, taking place in Riyadh, Saudi Arabia from 26–30 April 2026, will bring together leaders from the political, industrial, financial and technology sectors under the unifying theme “Pathways to an Energy Future for All”
