Chevron announces A$40mn WA lower carbon investment
SUMMARY
The investment is part of an offsets package Chevron will implement to address a carbon dioxide injection shortfall at the Gorgon natural gas facility.
By Shardul SharmaChevron Australia, as operator of the Gorgon Project, on January 11 announced an A$40mn ($29.14mn) investment in Western Australian lower carbon projects.
The investment is part of an offsets package Chevron will implement to address a carbon dioxide injection shortfall at the Gorgon natural gas facility over the five-year period ending July 17, 2021.
The package will also see Chevron fulfil its regulatory obligations through the acquisition and surrender of 5.23mn greenhouse gas offsets.
“We take our regulatory obligations seriously. The package we have announced will see us make good on our commitment to offset the injection shortfall, and ensures we meet the expectations of the regulator, the community and those we place on ourselves as a leading energy producer in Australia,” Chevron Australia managing director Mark Hatfield said.
