Chevron Ships First Gorgon LNG Cargo to Japan's Chubu Electric Power

Chevron Ships First Gorgon LNG Cargo to Japan’s Chubu Electric Power

Chevron Corporation announced Sunday that its first shipment of liquefied natural gas (LNG) from the

Gorgon Project has departed Barrow Island off the northwest coast of Western Australia. The cargo will

be delivered to one of Chevron’s foundation buyers, Chubu Electric Power, for delivery into Japan.

“Departure of the first cargo from the Gorgon Project is a key milestone in our commitment to be a

reliable LNG provider for customers across the Asia-Pacific region,” said Mike Wirth, executive vice

president, Chevron Midstream and Development. “This is also important for our investors as we begin to

generate revenue from a project we expect will operate for decades to come.” LNG is an essential fuel

for power generation across Asia and natural gas is among the fastest growing segments of Chevron’s

energy portfolio. Chevron’s Australian projects are well located to supply natural gas for the region and

more than 80 percent of Chevron’s Australian subsidiaries’ equity LNG from the Gorgon and

Wheatstone projects is covered by sales and purchase agreements and heads of agreements with

customers in the Asia-Pacific region. The LNG cargo will be delivered by the Asia Excellence, one of

Chevron’s new state-of-the-art LNG carriers. To support Chevron’s growing position as a leading LNG

supplier, Chevron Shipping Company is in the final stages of its largest shipbuilding and fleet

modernization program in recent history, which includes the addition of six new LNG carriers to its

operated fleet. The Gorgon Project is supplied from the Gorgon and Jansz-Io gas fields, located within

the Greater Gorgon area, between 80 miles (130 kilometers) and 136 miles (220 kilometers) off the

northwest coast of Western Australia. It includes a 15.6 million tons per annum (Mtpa) LNG plant on

Barrow Island, a carbon dioxide injection project and a domestic gas plant with the capacity to supply

300 terajoules of gas per day to Western Australia. The Chevron-operated Gorgon Project is a joint

venture between 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).