Chevron Eyes Argentina and Eastern Mediterranean for LNG Expansion

Chevron's Global Gas President Freeman Shaheen revealed that the company is considering opportunities to expand its liquefied natural gas (LNG) portfolio in Argentina and the Eastern Mediterranean. The move comes as buyer interest in diversified gas sources has increased due to energy security concerns amid the crisis in the Middle East, according to Shaheen.

Chevron expects its LNG supply capacity to amount to about 20 million tonnes per year, with 16 million tonnes coming from net gas production within its own projects and another 4 million tonnes from contracted volumes from the U.S. Gulf Coast. Deliveries under these contracts began in February and are expected to increase over the coming years.

Shaheen described the development of oil and gas projects in Argentina as promising, while calling the Eastern Mediterranean an interesting direction for the company. Chevron also sees opportunities in Australia and Africa, but decisions will depend on capital, fiscal, and regulatory conditions.