Chevron Vows To Use 'Lessons Learned' After Angola LNG Missteps

"We're still on track to reach that," Watson said.

The Angolan mishaps will help Chevron as it moves forward on engineering and design for its Kitimat LNG project in British Columbia, Watson said, an indication Chevron is unlikely to pull the plug even after Apache Corp quit.

Chevron is also nearing completion on two massive LNG projects off the Australian coast to supply Asian markets.

Shale Threat?

Even as Chevron works on LNG projects, the rise of the North American shale industry has boosted global supplies of natural gas. Chevron is a major natural gas producer in Pennsylvania's Marcellus region.

Yet the company is struggling to lock-in sales contracts for its Gorgon LNG plant in Australia, the world's most-expensive LNG operation.

In Australia, seven LNG projects should be online by 2017, which, taken with the North American shale renaissance, have raised concerns about global oversupply.


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