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A US$41.85 billion liquefied natural gas (LNG) project in Australia that is currently in development by a joint venture led by Chevron and including fellow supermajors ExxonMobil and Royal Dutch Shell has been given the go-ahead by the country’s government.
News agency Reuters reported that approval for the Gorgon project, which would be built on the Barrow Island nature reserve off west Australia, by the federal environment ministry brings the project one step closer to finally being realised.
“Clearly I’m aware of the economic size of this proposal, but the specific matter I had to decide was whether or not this proposal would have an adverse affect, particularly on threatened or listed species. I have determined that it won’t,” Environment Minister Peter Garrett is reported by Reuters as saying.
When completed the mega-project will have a production capacity of 15 million metric tonnes per annum (mtpa) and is the cornerstone of Australia’s massive LNG expansion plans.
The major stumbling block has been the public outcry to the potential damage to the environment and any further approval from the Australian government will be subject to strict environmental conditions concerning the local fauna and wildlife, including nearby coral reefs and the endangered flatback turtle.
Chevron are the major shareholders in the project with 50% with ExxonMobil and Shell each owning 25%.
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