A major gas project, Chevron's start

SYDNEY Chevron said the plant one of the largest gas plant of the world in Australia started its fuel after months of delays and higher costs than expected, with a ship from Australia to Japan.

Chevron has said that the liquefied natural gas (LNG) Gorgon, worth 52 billion dollars out of the country's northwest coast Australia's largest resources project began production in early March with exports issued its first journey from Barrow island, Australia on Monday.

Mike Wirth, Chevron said in a statement: The first LNG tanker gas from the Gorgon project is a major milestone in our commitment to being a provider LNG reliable for customers throughout the Asia Pacific region.

He said: 'It is important for our investors as we begin to earn money revenue from this project, we expect to operate in the coming decades.

He added that the LNG part are among the fastest growing part of the nation's energy portfolio. Chevron management venture has 47.3 percent. The distribution is given to the Chubu Electric Power Company, which is a partnership among the many small partners (0.417 per cent stake) Shell management 25 per cent stake and ExxonMobil owns 25 percent. Japanese company Osaka Gas 1.25 percent and Tokyo Gas 1.0%.

Energy companies, including many that Chevron has been affected by the drop in oil prices, which affect the price of LNG.

Australia has several other LNG plant in the plan and is expected to overtake Qatar as a major natural gas producer The world's largest by 2020.