RENEWABLES
is still seen as a revolutionary undertaking and is bearing fruit . A range of technological innovations will have positive ramifications , paving the way for succeeding in the energy sector in a way that is still eco-aware . While the project has been massive gamble for Chevron , the payoff could be huge for the liquefied natural gas giant .
Finally Shipping to Asian Markets On March 20 , 2016 , the Chevron Corporation announced its first shipment of liquefied natural gas from the Gorgon Project departing from Barrow Island off Western Australia ’ s northwest coast . The cargo was sent to Chubu Electric Power ( one of the Chevron foundation buyers ) for delivery to Japan .
This key milestone marks the start of Chevron ’ s goal of being a reliable provider of liquefied natural gas to the Asia-Pacific area . As revenues are generated , investors relax and the potential of profits for decades to come unfolds .
Liquefied natural gas is one of Asia ’ s essential fuels , and it also happens to be one of the fastest growing areas in the Chevron energy portfolio . The Gorgon Project in Australia has the Chevron company well positioned to help supply the region and is supported by existing sales and purchase agreements . This first delivery bodes well for signaling Chevron ’ s viability as a major supplier to this thriving area of the world . Chevron Shipping Company has also built six new liquefied natural gas carriers to assist with this expansion .
Profits and innovation The Asian market is robust , and the Chevron company is poised to profit now that the Gorgon Project has begun to ship orders . Chevron remains one of the world ’ s leading integrated energy companies , and through its worldwide subsidiaries , the company works in just about every facet of the energy industry .
Chevron ’ s success with the Gorgon Project positions the company to benefit from both Australian markets as well as Asia ’ s need for liquefied natural gas . Technologies and innovations that have arisen out of the Gorgon Project will no doubt influence and enhance the industry going forward .
18 December March 2016 2015