Wheatstone Approval Makes Australia a Global Energy Superpower

Yesterday global energy giant Chevron approved WA’s $29 billion Wheatstone gas project. The project will put Australia in direct competition with Qatar as the world’s largest LNG supplier.

Wheatstone is a joint venture project with Chevron 73.6 per cent, Apache 13 per cent, Kuwait Foreign Petroleum Co (KUFPEC) 7 per cent, Shell Australia 6.4 per cent.

Construction of the development will start in November, take 6 years ans create 6500 jobs. First exports are planned to commence in 2016 and will produce $20 billion in government revenue.