Gorgon costs blowout by $9 billion

The Gorgon plant site on Barrow Island.

Chevron has confirmed a major cost blowout at its Gorgon liquefied natural gas development off the Western Australian coast, but it is not as large as speculated.

Chevron said the budget had increased from $43 billion to $52 billion, well under the $60 billion that was widely speculated in recent media reports.

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