Australia's Gorgon LNG Export Facility Restarting Operations

Reuters

SINGAPORE, May 18 (Reuters) - Chevron has begun to restart its Gorgon liquefied natural gas (LNG) export facility in Australia following its unplanned shutdown in April, the U.S. energy major said on Wednesday.

"We confirm start-up activities are underway on Gorgon train one with a plan to safely resume production in the coming weeks," a Chevron spokesman told Reuters.

The $54 billion Gorgon project shut down in April following technical problems, only shortly after starting up first production.

(Reporting by Henning Gloystein; Editing by Tom Hogue)

Copyright 2016 Thomson Reuters. Click for Restrictions.

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Bassam El Wazni | May. 20, 2016
It is a very hard time for Chevron. The capital cost of $54 billion for Gorgon project is very high while the LNG price is at its lowest level. If Gorgon Plant is fully operational, its total revenue at current energy prices will be no more than $4.4 billion per year. Comparing with Inpexs Ichthys project of capital cost of $38 billion and when it is fully operational at current energy prices, it will generate the same total revenue of about $4.4 billion per year. Hence the situation of Chevron is nearly twice worse than Inpex at the current energy market.

Paul Koyich | May. 19, 2016
Be interested in what the technical problems were.....


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