Chevron's (CVX) Gorgon LNG Facility Faces Production Disruption [Yahoo! Finance]
Chevron Corporation (CVX)
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Source: Yahoo! Finance
The LNG train has been offline since Apr 30, 2024, owing to a mechanical fault in a turbine. Management has noted that they have begun working to repair the fault and the process may take several weeks. The Gorgon LNG project has a nameplate capacity of 15.6 million tonnes per annum. It is located on Barrow Island, offshore Western Australia. Exports from the facility will face disruptions in the current month as the operator continues to work on restoring production from the train. It has been reported that each week of downtime on one train at Gorgon decreases the terminal's liquefaction capacity by approximately 100,000 tons. Since, the shutdown is projected to be for five weeks, it is expected to result in a reduction of terminal production by about 5-8 cargoes. Each standard-sized cargo is estimated to be equivalent to 60,000-70,000 tons of LNG. A representative of Chevron Australia has said that despite the shutdown, the domestic gas supply and the remaining two LNG produc
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CVX
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- 4/26/24 - Beat
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Sec Filings
- 5/31/24 - Form 8-K
- 5/30/24 - Form 4
- 5/30/24 - Form 4
- CVX's page on the SEC website