Chevron halts sale of Australian LNG asset
Australia Karratha Gas Plant, North West Shelf Project, Woodside
The American multinational launched a formal sale of its 16.67% share in Australia’s largest and oldest LNG facility in August 2020 but was unable to secure interest in the cost of sale it desired.
The Woodside-operated facility has the capacity to produce 16.9 million tonnes per year of LNG. Declining gas supplies has the asset penned for a transition to a toll treatment facility in years to come.
Other partners in the project include BP, Shell and Japan Australia LNG.
“We’re not in a position where we need to sell assets to generate cash,” said Michael Wirth, CEO of Chevron.
“Obviously we’re in a market today where LNG demand is very high and there is a lot of gas in Australia still to run through these plants,” he added.
Recent Posts
Subsea7 unveils contract win in Turkish Black Sea
Subsea7 on Friday announced the award of a contract valued at up to USD 500 million to the Subsea Integration… Read More
Sharjah’s SNOC acquires stake in Eni block in UAE
Sharjah National Oil Corporation has acquired a 30% participating interest from Eni in a block in Ras Al Khaimah, UAE,… Read More
GeoPark signs offtake deal with Vitol in Colombia
Colombia-based GeoPark has signed an offtake and prepayment agreement with Dutch commodities trading firm Vitol for a minimum of 20,000… Read More
Nigeria launches bid round for 12 oil and gas blocks
Nigeria has opened a bid round covering 12 onshore and deepwater oil and gas blocks, Reuters reported on Wednesday Read More
ADNOC signs 15-year LNG supply deal with EnBW
ADNOC has signed a 15-year heads of agreement for the supply of 600,000 tpy of LNG to German energy company… Read More
TotalEnergies, ConocoPhillips reach first oil at Norway project
TotalEnergies and ConocoPhillips have reached first oil production at the North Sea's USD 1 Read More