Chevron Unlikely To Expand Major Australian LNG Projects

The oil price slump has shifted the trend in new project investments towards smaller projects with faster returns and away from mega projects, and Chevron is unlikely to sanction another major LNG development in Australia, according to Nigel Hearne, managing director of Chevron Australia and head of the Australasia business unit. “The mega projects of the past decade are giving way to smaller, more targeted investments with quicker economic returns,” Hearne said in a speech at the Committee for Economic Development of Australia on Tuesday.…