US super-major Chevron (NYSE:CVX) has sanctioned the $29 billion Wheatstone liquefied natural gas (LNG) development in Western Australia.
Chevron has made the milestone final investment decision, moving the construction forward for the upstream offshore development and the downstream onshore facility.
Estimated to cost $29 billion, the initial phase of the Wheatstone LNG development will include two LNG processing trains with a combined capacity of 8.9 million tons per annum (MTPA), as well as a domestic gas plant. The upstream portion of the development will include drilling, subsea equipment, processing platform and export pipeline.
First gas on Wheatstone LNG is scheduled for 2016.
PennEnergy.com
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