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Chevron Tries to Cash in on Asian Resource Need



September 30, 2011 – Comments (0) | RELATED TICKERS: CVX

Asia has recently expressed an increased need of energy resources. It has impacted the U.S. markets already, and energy companies are taking notice. Chevron has decided to utilize Asia’s needs as a way to make more money for the company. The Trefis Team explains how Chevron plans to do this.


 "Chevron doubles its bets on Asia

Chevron now holds more than half of its 150 trillion cubic feet of global gas reserves in the Asia Pacific region. [1] The Wheatstone project represents the company’s bullish view on demand for liquefied natural gas from Asian markets such as Japan, South Korea and China.

The natural gas reserves of Australia’s northern coast will see investments of more than $120 billion by international oil & gas firms, and the country is expected to overtake Qatar as the largest exporter of LNG by 2021. Shipping LNG from Australia is cheaper than shipping it from the Middle East and Africa for customers in North Asian countries like Japan."


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