Gas Project Modification Worth Billions

Major LNG-related news from Australia commanded a significant amount of attention last week from downstream readership. Read on for details, along with other recent downstream-related articles that ranked highly in page views.

$4B Chevron-run Project Advances

Chevron (NYSE: CVX) recently revealed that a $4 billion project to ensure natural gas supplies to the Gorgon LNG trains and gas plant in northwestern Australia will go forward. The newly approved Jansz-Io Compression project calls for constructing and installing infrastructure linking the offshore Janz-Io gas field to the Gorgon complex. Chevron’s fellow Gorgon Project owners include ExxonMobil (NYSE: XOM), Shell (NYSE: RDS.A), Osaka Gas (TYO: 9532), Tokyo Gas (OTCMKTS: TKGSY), and JERA. The article also mentions which company won a major technology contract for the project.

OPEC+ Deal Fails

In the period leading up to the OPEC+ meeting early this month, oil market-watchers were speculating what the alliance of major oil producers would do. As this post-meeting Bloomberg article points out, a major takeaway from the meeting turned out to be what the group did not do: arrive at an agreement on gradually increasing oil output. The lack of a deal stems from friction between Saudi Arabia and the United Arab Emirates.

What to Watch as the Oil Crisis Evolves

In its assessment of the fallout from the OPEC+ non-decision, Bloomberg offered a preview of potential broader market and geopolitical outcomes. The news agency highlights possible effects linked to the durability of the OPEC+ alliance, involvement from government officials from within and outside the oil producers’ group, price movements, and an escalation of an unusually public dispute.