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Chevron Aus LNG investment tops A$30bn

28th May 2013

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

  

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PERTH (miningweekly.com) – Energy major Chevron’s investment into local companies has topped A$30-billion, the company reported this week.

The US-based corporation was developing the A$52-billion Gorgon and the A$29-billion Wheatstone liquefied natural gas (LNG) projects.

Chevron Australia MD Roy Krzywosinski said the Chevron-operated Gorgon project had now committed A$20-billion to local companies, while the Wheatstone project had committed close to A$10-billion.

The two natural gas projects have also created 14 000 direct and indirect jobs across Australia, with some 10 000 on the Gorgon project and 4 000 on Wheatstone.

“Chevron works closely with local industry to maximise opportunities for work on these projects and has awarded more than 600 contracts with local companies to date.”

Krzywosinski said Gorgon and Wheatstone were well-placed to take advantage of a rapidly-increasing demand for cleaner-burning natural gas in the Asia-Pacific region, as well as globally.

“Global LNG demand is expected to increase significantly by 2025, at which point there is a potential supply shortfall estimated at almost 150-million tons. This equates to ten Gorgon projects and about half-a-trillion dollars in investment,” he stated.

Edited by Chanel de Bruyn
Creamer Media Online Managing Editor

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