Chevron to Reduce Funding for Proposed Kitimat LNG Terminal

Chevron announced that “[a]s a result of Chevron’s disciplined approach to capital allocation and a downward revision in its longer-term commodity price outlook, the company will reduce funding to various gas-related opportunities including Appalachia shale, Kitimat LNG, and other international projects. Chevron is evaluating its strategic alternatives for these assets, including divestment.” The Kitimat LNG liquefaction and LNG export terminal is proposed to be constructed at Kitimat, British Columbia, by Chevron Canada and Australian Woodside Petroleum Ltd. Read more in the CBC News article.

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