LNG

Australian and African LNG export plants operator, US major Chevron Corp., is increasing its LNG trading role after signing cargo supply agreements with the largest US exporter Cheniere Energy and newcomer Venture Global with one plant in operation in Louisiana and three others under development in the state.

Chevron Corp., the LNG operator in Australia and Africa, reported a more than four-fold jump in first-quarter earnings of $6.3 billion compared with $1.4Bln in the first three months of 2021 as more revenues came from LNG plants in Australia and Africa.

Chevron Corp., the US major with liquefied natural gas stakes in Western Australia and Angola, reported a drop in earnings in the first quarter of over 60 percent and has outlined its repair and maintenance schedule for the Australian LNG processing Trains.

Chevron Corp. said it restarted LNG production at Train 2 of the Gorgon liquefaction and export plant it operates on Barrow Island in Western Australia.

The Western Australian Gorgon LNG plant on Barrow Island is ramping up after a scheduled maintenance programme at a time when spot prices are at a low level, though steady oil prices are underpinning long-term contract values.