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2018-04-16 09:10:00

CHEVRON - AUSTRALIA LNG: $54 BLN

CHEVRON - AUSTRALIA LNG: $54 BLN

REUTERS - Chevron Corp will proceed with the second stage of its giant Gorgon liquefied natural gas (LNG) export plant off the northwest coast of Western Australia, the company said on Saturday.

Chevron and its joint venture partners plan to sink 11 new wells in the Gorgon and Jansz-Io fields and build offshore pipelines and subsea structures to pipe the gas to the nearby 15.6 million tonne a year LNG plant on Barrow Island.

The $54 billion Gorgon project came on stream in March 2016 but suffered numerous unplanned shutdowns in its early stages.

Chevron declined to put a cost on stage two of the project, but a spokesman said the development would fit within its planned annual investment of $18 billion to $20 billion through 2020.

Drilling should start next year and the full expansion could take about four years, a source with knowledge of the plans said.

Seven new wells will be drilled thousands of meters below sea level in the Gorgon field while four will be sunk in the Jansz-Io field, about 70 km (44 miles) further out to sea.

Gorgon Stage Two is part of the original Gorgon development plan which includes the expansion of the subsea gas network required to maintain long-term natural gas supply to Barrow Island.

"Through ongoing collaboration, we need to invest in both the infrastructure and the local skills and capability required to maintain our long-term energy position and contribute to the jobs of the future," Chevron Australia managing director Nigel Hearne said in a statement.

"Benefits are expected to flow through to Australian industry, arising from local project management, drilling and completion activities and subsea infrastructure installation."

Chevron is the Gorgon project operator and holds a controlling 47.3 percent, while ExxonMobil and Shell each have a 25 percent stake. The remaining stakes are held by Osaka Gas, Tokyo Gas and JERA.

Chevron also leads the development of the Wheatstone natural gas project, manages a one-sixth interest in the North West Shelf Venture and operates Australia's largest onshore oilfield on Barrow Island.

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Earlier:

 SANTOS TAKEOVER: $10.4 BLN
2018, April, 6, 18:05:00

SANTOS TAKEOVER: $10.4 BLN

REUTERS - Australian gas producer Santos Ltd (STO.AX) said on Tuesday it would “engage with” Harbour Energy after receiving a $10.4 billion takeover offer from the U.S. company, its fourth unsolicited bid since August 2017.

 

 AUSTRALIA'S LNG INVESTMENT: $900 MLN
2018, March, 4, 10:52:00

AUSTRALIA'S LNG INVESTMENT: $900 MLN

GT - Santos and its GLNG partners—Petronas, Total and KOGAS—will make a massive capital investment of $900 million in upstream developments in the Maranoa, Western Downs, Central Highlands and Banana regions in Queensland this year.

 SHELL SELLS WOODSIDE
2017, November, 14, 17:35:00

SHELL SELLS WOODSIDE

Shell’s subsidiary, Shell Energy Holdings Australia Limited (“SEHAL”), has entered into an underwriting agreement with two investment banks, for the sale of 71.6 million shares in Woodside, representing 64.0% of its interest in Woodside and 8.5% of the issued capital in Woodside, at a price of A$31.10 per share, resulting in total pre-tax proceeds of approximately $1.7 billion (A$2.2 billion). The sale is expected to complete on November 14, 2017.

 

 AUSTRALIAN LNG UP ANEW
2017, October, 23, 11:25:00

AUSTRALIAN LNG UP ANEW

Australia became the world’s second-largest exporter of liquefied natural gas (LNG) in 2015 and is likely to overtake Qatar as the world’s largest LNG exporter by 2019. As Australia’s LNG exports have increased, primarily from LNG projects in eastern Australia, the country has had natural gas supply shortages in eastern and southeastern Australia and an increase in domestic natural gas prices.

 

 CHEVRON - AUSTRALIA LNG
2017, October, 13, 12:30:00

CHEVRON - AUSTRALIA LNG

Wheatstone, co-owned by Australia’s Woodside Petroleum, Kuwait Foreign Exploration Co and Japan’s Kyushu Electric Power Co, has two gas liquefaction units, which at full capacity will supply 8.9 million metric tonnes of LNG a year to customers in Asia.

 

 AUSTRALIAN LNG UP
2017, July, 21, 09:00:00

AUSTRALIAN LNG UP

Australia's LNG exports in fiscal 2017-2018 (July-June) will be 63 million mt, after it crossed, for the first time, 50 million mt in fiscal 2016-2017, energy consultancy EnergyQuest said in its forecast on Wednesday.

 

 AUSTRALIAN LNG CONTROL
2017, June, 24, 09:40:00

AUSTRALIAN LNG CONTROL

Australia is set to apply LNG export controls, aimed at securing domestic supply of gas and keeping prices of the fuel in check, from January 1, the government announced earlier this week despite industry warnings about the decision's potential impact on energy investment.

Tags: CHEVRON, AUSTRALIA, GORGON, LNG