Chevron Corp.’s Australian subsidiaries have signed a binding sales and purchase agreement with SK LNG Trading Pte. Ltd. Under the agreement, SK, which is part of a leading industrial conglomerate in South Korea, will receive 4.15 million tons of LNG over a five-year period starting in 2017.
During the time of this agreement, more than 75% of Chevron's equity LNG from Gorgon will be committed to customers in Asia.
The Chevron-operated Gorgon Project is a joint venture of the Australian subsidiaries of Chevron (47.3%), ExxonMobil (25%), Shell (25%), Osaka Gas (1.25%), Tokyo Gas (1%) and Chubu Electric Power (0.417%).
The Gorgon Project combines the development of the Gorgon Field and the nearby Jansz-Io Field. Facilities being built on Barrow Island include an LNG facility with three processing units capable of producing 15.6 million mt of LNG per year, a carbon dioxide injection project and a domestic gas plant.
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