Gorgon LNG 78% Complete

Gorgon LNG is 78% complete and 65% of LNG has already been contracted under long term contracts, Chevron said in an investor update Tuesday.

The Gorgon Project is developing the Gorgon and Jansz-Io gas fields, located within the Greater Gorgon area, between 130 and 220 kilometres off the northwest coast of Western Australia. It includes the construction of a 15.6 million ton per annum (MTPA) liquefied natural gas (LNG) plant on Barrow Island and a domestic gas plant with the capacity to supply 300 terajoules of gas per day to Western Australia. 

Cost of the project has already surpassed the initial estimate. The company said last year that cost estimates for the project has risen to $54 billion from earlier estimate of $52 billion. The original cost of the project was $37 billion in 2009. First gas is expected by mid-2015.

Chevron also said that its Wheatstone LNG is 30% complete with 85% LNG already been contracted under long term contracts. The project includes two LNG trains with a combined capacity of 8.9 million tonnes per annum (MTPA) and a domestic gas plant.

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