Chevron begins divesting from LNG project in Australia


The American oil and gas group Chevron is starting a sales process for its interest in a large liquefied natural gas (LNG) project in Australia. It is the North West Shelf project.

Chevron has an almost 17 percent stake in that project and has already been approached by potential buyers. Other participants in North West Shelf are BP, Shell, BHP, Woodside Petroleum and Japan Australia LNG. The total value of the project is estimated at $ 34 billion. Located on the coast of northwestern Australia, North West Shelf is one of the largest and oldest LNG projects in the country.

By: Abaigael Schlomski

Abaigael Schlomski is an accomplished economist and financial journalist with over a decade of experience in the industry. He is a regular contributor to EconomicInform, where he provides in-depth analysis and expert commentary on the latest economic trends and events. With a keen understanding of the financial markets and a talent for breaking down complex economic concepts for a general audience, Maurice is a trusted and respected voice in the field.

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