Chevron signs Gorgon LNG trade agreement

Chevron Corporation has signed an agreement with SK LNG Trading to transfer 4.15 million tonnes of LNG over a five year period starting in 2017.

During the time of this agreement, over 75 percent of Chevron’s equity LNG from Gorgon will be committed to customers in Asia.

“This agreement is an important step in the commercialisation of Chevron’s significant natural gas holdings in Australia,” said Pierre Breber, President, Chevron Gas and Midstream.

“As Chevron continues to grow into one of the world’s largest LNG suppliers, this SPA represents further progress and diversification of our sales portfolio.”

“We are pleased with the opportunity to supply LNG to SK and look forward to building lasting relationships with our customers in the region as the Gorgon and Wheatstone projects move into operations,” said Roy Krzywosinski, managing director, Chevron Australia.

“SK joins our existing strong LNG customer base and demonstrates the Chevron-led Gorgon and Wheatstone projects are well-placed to meet the growing demand for natural gas in the Asia-Pacific region.”

The Chevron-operated Gorgon Project is a joint venture of the Australian subsidiaries of Chevron (47.3 percent), ExxonMobil (25 percent), Shell (25 percent), Osaka Gas (1.25 percent), Tokyo Gas (1 percent), and Chubu Electric Power (0.417 percent).

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