Chevron Bolsters LNG Portfolio Amid Rising Demand and Conflict-Driven Uncertainty

Chevron is positioning itself to grow its global natural gas portfolio as buyers seek more secure energy supply in light of recent conflicts.

The company's President of Global Gas, Freeman Shaheen, said that two major disruptions in the past four years have reinforced the need for diversity of supply and contracting structures.

Chevron is set to have about 20 million metric tons per annum of LNG supply capacity, combining 16 million tons of net production and 4 million tons from U.S. Gulf Coast contracts.

The company is evaluating new LNG growth in Argentina, the eastern Mediterranean, Australia, and Africa while weighing more than $7 billion of planned investment in Venezuela.