Chevron Targets Global LNG Growth Amid Energy Security Concerns

Chevron is expanding its global liquefied natural gas (LNG) portfolio to meet growing demand from buyers concerned about energy security. The company's president of global gas, Freeman Shaheen, said that global crises have highlighted the need for diversity in supply and contracting structures.

Chevron currently has around 20 million metric tons per annum of LNG supply capacity, which includes 16 million tons of net gas production from its projects and 4 million tons contracted from the U.S. Gulf Coast. The company plans to expand this portfolio further by targeting regions such as Argentina's Vaca Muerta region, the East Mediterranean, Africa, and Australia.

Shaheen also noted that LNG buyers are changing their approach to securing supply, with state-backed importers increasingly willing to sign contracts with portfolio suppliers rather than relying on government-to-government arrangements. Chevron is seeking opportunities in these evolving markets, including India, where price sensitivity remains a barrier.