Chevron has begun a detailed cost review of its $37 billion Gorgon LNG project in Australia in the face of uncertainties about Australian labour costs and currency exchange rates.
Executive vice president for upstream and gas George Kirkland said the review will be completed towards the year-end.
He pinpointed a number of “variables” including a 20% increase in the Australian dollar versus the US dollar since the project was sanctioned and weather-related issues that affected work at Barrow Island, where the Gorgon LNG plant is being built.
