$37 billion Gorgon gas project begins
The Gorgon natural gas project in Australia, worth an estimated $37 billion, has broken ground. The project is a joint venture between Chevron, Shell and ExxonMobil.
Barrow Island will be home to three liquefied natural gas (LNG) processing trains, a domestic gas facility, LNG loading facilities and a carbon injection plant when works are completed. The LNG facility will create about 10,000 jobs during the peak construction phase with more than 3,500 direct and indirect jobs sustained throughout the life of the project.
The Greater Gorgon Area's projected natural gas resources are equivalent to 6.7 billion barrels of oil. The project's scope includes a three-train, 15 million-metric-ton-per-year liquefied natural gas (LNG) facility and a domestic gas plant. The project underwent an environmental assessment that culminated with some of the most stringent conditions imposed on a major project anywhere in the world.
The first shipment of gas from the site is expected in 2014. Gorgon is also expected to have the world's largest carbon dioxide injection system and be a global leader in underground carbon dioxide injection technology.
The current estimated costs of $37 billion covers the first phase of development and the first gas is planned for 2014. The Gorgon Project, is operated by Chevron who own 50% of the joint venture with ExxonMobil and Shell each owning 25%.