14 September 2009 07:02 [Source: ICIS news]
SINGAPORE (ICIS news)--Energy giant Chevron and its partners Shell and ExxonMobil have decided to proceed with their Gorgon natural gas project in ?xml:namespace>
The project has secured necessary regulatory approvals and production licenses from the Australian government, Chevron said on Monday.
“With a total resource base of more than 40 trillion cubic feet of gas and an estimated economic life of at least 40 years, Gorgon will be a major contributor to our company's future growth," said Chevron chairman Dave O'Reilly.
The final decision on the project came days after Chevron signed three long-term deals to supply Gorgon LNG to
The project's scope includes a three-train, 15m tonne/year liquefied natural gas (LNG) facility and a domestic gas plant.
"Gorgon adds significant long-term reserves and production for Chevron, bolstering our strong resource replacement and underscoring the importance of
Chevron subsidiary Chevron Australia Pty Ltd currently owns 50% of the project, while the Australian subsidiaries of Shell and ExxonMobil control 25% each of the project.
($1 = A$1.16)
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