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Chevron, partners split on timing of Gorgon LNG expansion

PERTH -- Chevron and its two major partners are split on the timing of an expansion of their $44.7 billion Gorgon LNG project, The Australian Financial Review reported citing executives from partners Exxon Mobil and Shell.

Luke Musgrave, ExxonMobil' s Vice President of Australia LNG, said his company thought Chevron' s plan to commence FEED, on an expansion by the end of the year was too aggressive. FEED work is early stage design work that precedes a final investment decision on a project' s construction. "We probably don' t see FEED work beginning at the end of this year for an expansion," Mr.Musgrave was quoted as saying.

Shell has also held back from endorsing Chevron' s expansion timetable, the report said. "Shell and the other Gorgon JV participants are conducting a cost and schedule review and more will be known when that process is complete," Shell Australia Vice President of Finance and Strategy Michael Carey was quoted as saying. A Shell spokesman confirmed the quote by Mr. Carey but wouldn' t comment on specifically on the planned expansion of Gorgon.

An ExxonMobil spokeswoman declined to comment on the report. A Chevron spokesman in Perth wasn' t immediately available for comment. The report quoted a Chevron spokesman as saying that the partners remained committed to the development of a fourth train.

Dow Jones Newswires

11/02/2012

 

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