From The Australian:
Chevron chief executive John Watson said the costs of the Australian project have grown from the original estimate of $43 billion, citing the effect of the escalation of the Australian currency and the impact of tropical cyclones that have delayed operations. Chevron has also struggled to find skilled labour amid the boom in the Australian energy and mining sector.
Mr Watson declined to specify how much the project’s costs have grown.
“The project remains very economic,” Mr. Watson told reporters here following a morning appearance at the Council on Foreign Relations that touched on a variety of issues.
One wonders how much heat these LNG executives are taking from investors behind the scenes. I’m not worried about Gorgon. Gladstone seem to me more of concern. And uncommitted projects like Browse.
