SOURCE: Industrial Info Resources

Industrial Info Resources

August 10, 2012 06:15 ET

Chevron Announces Detailed Cost Review for Australia's Gorgon LNG Project, an Industrial Info News Alert

PERTH, AUSTRALIA--(Marketwire - Aug 10, 2012) - Researched by Industrial Info Resources Australia (Perth, Australia) -- The Gorgon Liquefied Natural Gas (LNG) project is being developed in a nature reserve on Barrow Island in Western Australia by Chevron Australia Pty Limited (NYSE:CVX) (Perth, Australia). The large-scale LNG project was given the development go-ahead in September 2009 and was initially forecasted to cost about $39.17 billion. Three years later, the expected investment value of the project has increased to $45.52 billion, and Chevron expects the costs to continue to rise. Chevron recently announced the need to perform a detailed cost review for the LNG project to determine by how much the billion-dollar budget is likely to increase. Industrial Info is tracking seven large-scale LNG production projects under construction in Australia, with a total investment value of more than $173.58 billion.

For details, view the entire article by subscribing to Industrial Info's Premium Industry News at, or browse other breaking industrial news stories at

Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, and eight offices outside of North America, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Industrial Info's quality-assurance philosophy, the Living Forward Reporting Principle™, provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities. To contact an office in your area, visit the "Contact Us" page.

Contact Information

  • Contact:
    Joe Govreau