The final investment decision was announced by representatives from the joint venture partners at a ceremony in Perth, Western Australia, which was attended by the Western Australian Premier Colin Barnett and Federal Minister for Resources and Energy Martin Ferguson.
“With global demand for LNG forecast to triple by 2030, the Gorgon Project will be a critical supply source in meeting this future demand, particularly for the economies in the fast growing Asia-Pacific region,”? said ExxonMobil Development Company President Neil Duffin.
The decision follows the recent execution of sales and purchase agreements between Chevron and Osaka Gas, Tokyo Gas and GS Caltex for the supply of almost three million tonnes per annum (MMt/a) of LNG from the Gorgon Development for a period of 25 years.
ExxonMobil has also executed sales and purchase agreements to supply PetroChina with 2.25 MMt/a and Petronet with 1.5 MMt/a from their share of Gorgon LNG.
The Gorgon LNG Development is a joint venture between Chevron as operator, ExxonMobil and Shell. The project’s scope includes three 5 MMt/a LNG trains, an underground carbon dioxide injection project and a domestic gas plant.