Chevron Corp., operator of the A$52 billion ($49 billion) Gorgon natural gas venture in Australia, said some “uncertainties” remain in the construction of the project after its budget last year jumped 21 percent.
Rio Tinto Group’s mines in Western Australia’s Pilbara region, and other businesses, escaped mostly unscathed when Tropical Cyclone Lua, the biggest storm of the year, moved through the area two days ago.
Apache Corp . halted gas production from Varanus Island and Chevron Corp . suspended construction at the A$43 billion ($43 billion) Gorgon project in Western Australia because of Tropical Cyclone Carlos.
The carbon capture project linked to Chevron Corp.’s Gorgon liquefied natural gas project off the northwest coast of Australia is on track to begin injections in 2015, Australian energy minister Martin Ferguson said.
A tropical cyclone that forced oil and mining companies to suspend projects in Western Australia is expected to intensify today as it moves west along the Pilbara coast, the country’s Bureau of Meteorology said.
Chevron Corp. , the second-largest U.S. energy company, said Royal Dutch Shell Plc agreed to acquire a stake in its proposed A$20 billion ($21 billion) Wheatstone natural gas project in Western Australia.
Chevron Corp. said it aims to supply China’s largest oil company with liquefied natural gas from its proposed Wheatstone project in Australia, the nation at the center of the U.S. energy producer’s growth plans.