Chevron Australia has released a strategic update of its activities, announcing the upcoming commissioning of the third train of its Gorgon LNG project (expected in March 2017) and that of the first train of its Wheatstone LNG project by mid-2017 (second train expected in late 2017 or early 2018). After the start of these three LNG units, Chevron doesn't plan to develop large greenfield LNG projects in Western Australia. Chevron will focus on "smaller, more targeted investments with quicker economic returns".
The Gorgon project is operated by Chevron which has a 47.3% stake. Other shareholders include ExxonMobil (25%), Shell (25%), Osaka Gas, Tokyo Gas and Chubu Electric Power. The first two 5.2 Mt/year liquefaction trains were commissioned in 2016 and the third train is expected in late March 2017. A fourth 5 Mt/year LNG train was under consideration but is now unlikely to be developed.
The Wheatstone LNG project is currently under construction and consists of two 4.45 Mt/year liquefaction trains (total capacity of 8.9 Mt/year). The first train was expected in 2016 and has been delayed to 2017. Both units are now scheduled to be fully operational in 2018. The project is developed by Chevron (64.14%), Woodside (13%), Kyushu Electric (1.46%) and TEPCO (8%). In November 2016, Chevron announced a 17% increase in the project cost, from US$29bn (2011 estimate) to US$34bn (+US$5bn).
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