Chevron Seeks Diversified Gas Portfolio Amid Middle East Crisis

Chevron is expanding its global liquefied natural gas (LNG) portfolio to meet growing demand from buyers concerned about energy security due to the crisis in the Middle East, according to President of Global Gas Freeman Shaheen.

The company currently has about 20 million metric tons per annum of LNG supply capacity, comprising 16 million tons of net gas production from its projects and 4 million tons contracted from the U.S. Gulf Coast.

Chevron is looking to expand its portfolio in Argentina, where it sees great prospects for crude and gas development, as well as in the East Mediterranean, which Shaheen calls 'a very exciting area' for the company.

The company also has significant operations in Australia, running the country's largest LNG project, Gorgon, and the Wheatstone project, with a large portion of its Australian supply going to Japan.