Chevron Bolsters LNG Supply Network Amid Middle East Crisis

Chevron, the US oil major, is expanding its liquefied natural gas (LNG) supply network globally to address rising demand from buyers concerned about energy security amid escalating tensions in the Middle East.

The company's president of Global Gas division, Freeman Shaheen, named Argentina, the Eastern Mediterranean, Australia, and Africa as expansion candidates. Chevron aims to hold approximately 20 million tonnes of annual LNG supply capacity over the coming years.

This move is a response to two major disruptions in the global gas market over the past four years: the war in Ukraine and this year's conflict involving Iran, which have reduced supply from major producers Russia and Qatar, driving LNG prices higher.