Chevron has revealed a larger than expected 17% increase in the Wheatstone liquefied natural gas project’s capital costs in Australia, but on a brighter note is now producing from two trains at its Gorgon LNG development.
The project costs were expected to overrun after the US operator warned earlier this year that the joint venture was facing cost pressures.
However, the US$5 billion increase exceeded expectations, even though Chevron’s share price was largely unaffected as it drew support from other more positive factors in its quarterly results.
