Chevron: Gorgon LNG 50 Pct Complete (Australia)

Chevron’s Gorgon LNG Project will go online by 2014 and the construction on the giant LNG project is 50 percent complete, Reuters informed on Tuesday citing a senior executive.

Brian Smith, Chevron Australia’s General Manager of Operations said that the budget for Gorgon project is estimated to be approximately USD 37 billion.

“The cost is still the same number at this point of time. It may well be in the future that we may mention some other number… the exchange rate has gone up, it’s higher than when project was approved,” said Smith.

Gorgon LNG is one of the world’s largest natural gas projects and the largest single resource natural gas project in Australia’s history.

It includes the construction of a 15 million tonne per annum LNG plant on Barrow Island and a domestic gas plant with the capacity to provide 300 terajoules per day to supply gas to Western Australia.

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LNG World News Staff, November 13, 2012; Image: Chevron