Chevron Targets Diversified Global Gas Portfolio 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 gas markets have experienced two major disruptions in the past four years due to conflicts in Ukraine and Iran, which cut off supplies from top producers Russia and Qatar.

Chevron currently has 20-million tons a year of LNG supply capacity, comprising 16-million tons of net gas production from its projects and 4-million tons contracted from the US Gulf Coast.

The company 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 described as 'a very exciting area' for Chevron.