Chevron Achieves First LNG Production at Wheatstone
Oct. 8, 2017
Chevron Corporation (NYSE:CVX) today announced it has started producing liquefied natural gas (LNG) at the Wheatstone Project in Western Australia. The first cargo is on track to be shipped in the coming weeks.
“First LNG production is a significant milestone and is a credit to our partners, contractors and the many thousands of people who collaborated to deliver this legacy asset,” said Chevron Chairman and CEO John Watson. “Wheatstone adds to our legacy gas position in Australia that will be a significant cash generator for decades to come.”
At full capacity, the Wheatstone Project’s two train LNG facility will supply 8.9 million metric tons per year of LNG for export to customers in Asia. The LNG facility is located 7.5 miles (12 kilometers) west of Onslow and processes natural gas from the Chevron-operated Wheatstone and Iago fields.
The Chevron-operated Wheatstone LNG facility is a joint venture between Australian subsidiaries of Chevron (64.14 percent), Kuwait Foreign Petroleum Exploration Company (KUFPEC) (13.4 percent), Woodside Petroleum Limited (13 percent), and Kyushu Electric Power Company (1.46 percent), together with PE Wheatstone Pty Ltd, part owned by JERA (8 percent). Chevron holds an 80.2 percent interest in the offshore licenses containing the Wheatstone and Iago fields.
Source credit: http://www.chevron.com/investors/press-releases