Patience, investor
Chevron’s bet on big-ticket projects will pay off, eventually
The Gorgon liquefied natural gas project limped into service in March, a year late and over budget. The timing hardly seemed propitious: with oil and natural gas prices still so low, who needs another Australian LNG plant – especially one costing $54bn? Well, Chevron does; the company has an oilier asset base than rivals such as Shell and ExxonMobil. Gorgon – almost 50% owned by Chevron – beefs up the company’s exposure to gas. Trains two and three should come on stream at six-month intervals, bringing the plant towards its design capacity of 15.6m tonnes a year. More LNG will become available from mid-2017, when production starts at Wheatstone – an 8.9m-t/y, two-train plant owned 64.14% by
Also in this section
4 December 2025
Time is running out for Lukoil and Rosneft to divest international assets that will be mostly rendered useless to them when the US sanctions deadline arrives in mid-December
3 December 2025
Aramco’s pursuit of $30b in US gas partnerships marks a strategic pivot. The US gains capital and certainty; Saudi Arabia gains access, flexibility and a new export future
2 December 2025
The interplay between OPEC+, China and the US will define oil markets throughout 2026
1 December 2025
The North African producer’s first bidding round in almost two decades is an important milestone but the recent extension suggests a degree of trepidation
