Chevron says exploring opportunities on four continents in LNG expansion drive

Chevron is expanding its LNG business across four continents, according to company President Freeman Shaheen. The energy crisis caused by the Middle East conflict has driven buyers to seek diversification in LNG supply. Shaheen told Reuters that Chevron aims to offer diverse LNG supply to its customers, reinforcing the need for diversity in both supply and contracting structures.

The company is looking to expand its portfolio in Argentina's Vaca Muerta shale play, offshore Greece and Cyprus, and in Australia's Gorgon and Wheatstone LNG projects. In Africa, Chevron is boosting exploration efforts, recently announcing a new oil and gas condensate discovery offshore Angola. By raising its LNG portfolio, Chevron aims to meet the demand for diverse LNG supply that doesn't rely on a single chokepoint for shipment.