Tsuen Wan International: Chevron intends committing to Australian LNG expansion late in 2013.

April 12, 2011 - PRLog -- The U.S’s second largest energy firm has informed Tsuen Wan International that it intends lodging documents detailing the expected environmental impact of the fourth LNG processing plant, or train, later this year.
The oil major, together with partners Exxon Mobil Corp and Royal Dutch Shell Plc among others, plan production of 15 million metric tons of LNG a year from three units beginning in 2014.

“We’ve started work on expansion, with a small project team already formed here in Perth,” Colin Beckett, general manager of the Gorgon project told reporters known to Tsuen Wan International. “Towards the end of 2013 is a reasonable target to aim for. We want to capture the synergies from the first three trains. There’s a lot we can leverage off.”

Chevron is one of a number of firms moving ahead with Australian LNG ventures to meet an anticipated increase in Asian demand for cleaner-burning alternatives to coal. The oil giant says the Gorgon project and the proposed Wheatstone LNG project in Australia are the “centrepieces” of its growth strategy.

# # #

Tsuen Wan International is a leading independent investment company, based in the heart of Hong Kong. Tsuen Wan International offers a variety of investment products for institutional, corporate and high net worth investors in equity debt and FX markets.