Chevron Welcomes Western Australian Environmental Protection Authority Decision on Gorgon Project
Chevron Corporation (NYSE:CVX) welcomes today's recommendation by the Western Australian Environmental Protection Authority's (EPA) that the revised and expanded Chevron-operated Gorgon Project could meet the EPA's environmental objectives. The revised and expanded proposal adds a third 5 million metric-tons-per-year (MTPY) liquefied natural gas (LNG) train to the original two-train proposal already approved for Barrow Island.
The EPA's decision is an important step in the regulatory process. Chevron can now continue to assess the conditions as it works toward a final investment decision in the second half of this year.
Gorgon is Australia's single largest resource project and is set to deliver significant economic benefits and create thousands of jobs.
Chevron is currently reviewing and assessing the EPA's proposed conditions. The company acknowledges that under the state's process the government provides final approval for the project.
The Joint Venture participants — Chevron (operator), Shell and ExxonMobil — are committed to moving the project forward on Barrow Island and believe the environmental impacts of the project can be minimized and effectively managed in accordance with environmental best practices.
Chevron has a 40-year track record of protecting biodiversity on Barrow Island. With proper management and planning, the company has demonstrated that development and conservation can coexist.
The environmental assessment for the Gorgon project has been the most comprehensive in Australia. It is the result of six years of preparation, including the research and contributions of numerous independent experts, and extensive community consultation.
The Gorgon project is expected to boost gross domestic product, generate significant government revenue and create local opportunities through goods and services. It also includes a domestic natural gas capability which will provide more energy security for Western Australians.
Chevron (50%) operates the Gorgon Project with joint venture participants ExxonMobil (25%) and Shell (25%).
