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Cameron Drummond

Wednesday, 18 May, 2016 - 06:36

Gorgon restarts plant, LNG cargo set to sail

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Chevron hard time

Permalink Submitted by Bassam El Wazni on Fri, 20/05/2016 - 22:57

CRAIGIEBURN

It is a very hard time for Chevron. The capital cost of 54 billion US dollar for Gorgon project is very high while the LNG price is at its lowest level. If Gorgon Plant is fully operational, its total revenue at current energy prices will be no more than 4.4 billion US dollars per year. Comparing with Inpex's Ichthys project of capital cost of 38 billion US dollar and when it is fully operational at current energy prices, it will generate the same total revenue of about 4.4 billion US dollars per year. Hence the situation of Chevron is nearly twice worse than Inpex at the current energy market. Bassam El Wazni

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