Chevron Targets Diversified LNG Supplies Across Four Continents
Chevron Corp. is expanding its liquefied natural gas (LNG) business opportunities across four continents to strengthen supply diversification for customers, said Freeman Shaheen, Chevron's president of global gas.
The company is evaluating several expansion opportunities in Argentina, the Mediterranean, Africa, and Australia, with a focus on meeting customer demand while reducing reliance on a single vulnerable shipping point.
Chevron already has a presence in Argentina, where it is expanding its exploration of the Vaca Muerta shale field alongside major US oil and gas producers. In the eastern Mediterranean, Chevron is building a portfolio of offshore exploration blocks in Greece and Cyprus.
The company operates two major LNG projects in Australia, Gorgon and Wheatstone, which together account for around 5% of global LNG supplies. The Gorgon project has an LNG production capacity of 15.6 million tonnes a year, while Wheatstone has a capacity of 8.9 million tonnes a year.
In Africa, Chevron is stepping up exploration activity and pursuing opportunities to discover new reserves, including an oil and gas condensate discovery offshore Angola in August.