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Green light imminent for gas export investment

Green light imminent for gas export investment article image
Investment interests in the Gorgon gas export project are expected to come to fruition this week, after all partners secure respective board clearance to proceed. The green light on investment will come after last week's win: a $70 billion gas deal between Chevron and companies in Japan and Korea. The Chevron deal included an equity agreement with Osaka Gas and Tokyo Gas of 1.25 percent and one percent respectively, decreasing Chevron's share to 47.75 percent. Partners Chevron, ExxonMobil and Shell are expected to announce the final investment decision this week, after the original August 31 announcement was deferred due to environmental clearance requirements. While Gorgon is foreign-owned, the project will generate jobs for Australians, in particular the engineering sector and related industries.

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