Chevron to give official go-ahead for Gorgon next week

Chevron are expected to give the official go-ahead to the Gorgon gas project on Barrow Island next week. The company will approve an investment of about A$42 billion. California-based Chevron currently owns 50% of the project with Exxon and Shell each owning 25%. With the help of Gorgon, Australia may jump to first or second among global LNG producers within 10 years.