On September 10, 2009
Chevron Lands Gorgon LNG Export Deal Worth $60B with Japan, South Korea
Chevron has signed agreements with Japan and South Korea for $60 billion worth of liquefied natural gas from its massive Gorgon project just weeks from making its final investment decision. The San Ramon, Calif.-based company will supply nearly 3 million tons per annum of LNG to Osaka Gas, Toyko Gas and GS Caltex. Chevron owns a 50 percent stake in GS Caltex. Osaka Gas and Tokyo Gas will buy stakes in the Gorgon project in Western Australia as part of the supply agreement. Chevron did not reveal the financial details of the agreements. However, Australian Prime Minister Kevin Rudd said the deals would be worth more than A$70 billion — or $60 billion — of exports over 25 years, Reuters reported. The Chevron-operated Gorgon is…
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