Economy

Chevron Wheatstone project produces first liquefied natural gas

Chevron Wheatstone project produces first liquefied natural gas”

The first LNG cargo from the project, in which Woodside Petroleum has a stake, is to be shipped in the coming weeks, the Australian Financial Review reported on Monday.

The Wheatstone project's two-train LNG facility will supply 8.9 million tonnes of LNG to Asian customers a year.

The company expects the second unit to start producing six to eight months after the first.

"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", Chevron chairman John Watson said. It has approval to expand production at the operations to 25 million tonnes of LNG a year.

"As one of Australia's largest resource developments, Wheatstone will be an important pillar of the Australian economy for decades to come", Mr Hearne said.

Wheatstone is a joint venture between Australian subsidiaries of Chevron (64.14 per cent), Kuwait Foreign Petroleum Exploration Company (13.4 percent), Woodside (13 per cent), and Kyushu Electric Power Company (1.46 per cent), together with PE Wheatstone Pty Ltd, part owned by JERA (8 per cent).

"We will continue to support the operator in optimising lifting costs and increasing production volumes to maximise the value of our investment", Coleman said.

All eyes in the LNG market will be on how smoothly Wheatstone progresses following the troubled start-up at Chevron's bigger Gorgon LNG project.



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