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Chevron gave go ahead for its Wheatstone LNG project in Western Australia

September 27/2011

(Gulf Times) -- Chevron Corp gave the go ahead for its USD 28.4bn Wheatstone liquefied natural gas project in Western Australia, seeking to tap into growing Asian demand with its second LNG export project in the country.

The project is due to initially produce 8.9mn tonnes per annum (mtpa) of LNG and have a domestic gas plant, eventually expanding to 25 mtpa. First gas is planned for 2016.

Chevron is positioning itself to become one of the largest LNG producers in Australia, with the construction of the USD 37bn Gorgon project, also off the coast of Western Australia, which is set to produce 15 mtpa by 2014.

Apache Corp, Kuwait Foreign Petroleum Exploration Company (KUFPEC), Royal Dutch Shell, and Kyushu Electric are all equity participants in Wheatstone, and hold 13%, 7%, 6.4% and 1.83%, respectively while Chevron holds the rest.

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