Chevron to advance Kitimat LNG without Apache, seeks new partner
Chevron is “unconcerned” about Apache’s announcement that it will divest its stake in the Kitimat LNG project in British Columbia, Chevron vice chairman George Kirkland said during a conference call.
By JOE CARROLL
Chevron said it will seek out a new partner for a proposed
natural gas export terminal on Canadas Pacific Coast
after Apache Corp. indicated it will depart from the project.
Chevron is unconcerned about Apaches
announcement that it will divest its stake in the Kitimat LNG
in British Columbia,
Chevron vice chairman George Kirkland said during a
conference call with analysts.
Chevron has already began drilling appraisal wells in the gas
fields that will supply the proposed Kitimat complex,
The company still is studying how much the project
will cost and how long it
will take to construct, key factors in a final investment
decision, he said.
Apache also said that it will sell its interest in the
Chevron-led Wheatstone LNG venture in Australia.
Chevron, the worlds third-largest energy producer,
whose LNG plans include a $10 billion complex in Angola and
the $54 billion Gorgon project
in Australia, is betting
demand for the fuel will begin to outpace supplies around the
end of this decade.