Chevron has commissioned the second liquefaction train of the US$37bn Wheatstone LNG project located near Onslow, in the Pilbara region of Western Australia. The facility consists of two 4.45 Mt/year liquefaction trains (total capacity of 8.9 Mt/year), whose first LNG train came onstream in October 2017.
The project is developed by Chevron Australian subsidiaries (64.14%), Kuwait Foreign Petroleum Exploration Company (KUFPEC) (13.4%), Woodside (13%), Kyushu Electric (1.46%) and PE Wheatstone (partly owned by JERA, 8%). In November 2016, Chevron announced a significant increase in the costs related to the project due to delays in module deliveries, from US$29bn (2011 estimate) to US$37bn.
In Australia, Chevron is present in the Wheatstone and Gorgon LNG large projects but will now change its strategy and focus on smaller, more targeted investments with quicker economic returns. The company believes that developing new greenfield LNG mega-projects is unlikely to happen and the industry will shift its focus to smaller developments.
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