On 14 September Chevron announced that the Gorgon gas field, one of the world’s largest, will be developed off NW Australia with export contracts already signed with China, India, Japan and South Korea. Prime Minister Kevin Rudd described Gorgon as Australia’s biggest-ever resource development which would generate USD 257 billion in export earnings. Chevron Australia, which owns a half share in the project and is the field operator has agreed with its partners ExxonMobil Corp. and Royal Dutch Shell to develop the gas field with a plant constructed on Barrow Island off Western Australia state. Much of the carbon dioxide emitted from the project is to be buried beneath Barrow Island to reduce its contribution on global warming. The project’s first phase of development is estimated to cost AUD 43 billion. ExxonMobil and Shell each holds a 25% stake. First work will begin immediately on Barrow Island, and the first gas is expected to be delivered in 2014.
