In its 2020 budget, Chevron announced it will try to sell its 50% stake in the Kitimat LNG project in northern British Columbia (Canada), as well as shale gas fields in the Appalachians (north-eastern United States). In addition, the company announced it would intend to write off US$10-11bn in assets in its fourth-quarter results 2019, with more than half due to its Appalachian fields.
In December 2019, The Canada Energy Regulator (CER) has approved Kitimat LNG's application to export LNG from its proposed gas liquefaction project in northern British Columbia. The project will be allowed to export up to 28.2 bcm/year (20.9 Mt/year) of LNG over a 40-year period. The Kitimat LNG project is developed by Chevron and Woodside Energy and will include up to three LNG trains rated 6 Mt/year (8.1 bcm/year) each. The LNG plant is not expected to be commissioned before 2029. Chevron bought half of the LNG project from Encana and EOG Resources in December 2012. As part of the same deal, Apache raised its participation in Kitimat LNG from 40% to 50%. In 2014, Woodside acquired Apache’s stake in the project.
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