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Chevron’s Australia Gorgon Train 3 To Be Shut Down In Q2

By John F. Heerdink, Jr.

As per reports, Chevron Corp (CVX) plans to shut down Train 3 at the Gorgon liquefied natural gas plant off Western Australia in the second quarter for weld inspections and maintenance. Problems were discovered in propane kettles in Trains 1 and 2 at the three-train, 15.6 million tonnes a year plant, accounting for nearly 5% of global LNG trade.

Jay Johnson, Chevron’s upstream vice president reportedly informed at the company’s investor day, that the repairs on the heat exchangers in Train 1 and Train 2 have been completed. In the second quarter, the company needs to do inspections on Train 3 with required repairs following it up by a scheduled maintenance turnaround. Regardless of issues with the heat exchangers, the company assured that Gorgon’s reliability has been steadily increasing, with the plant operating above its nameplate capacity.

“We’ve actually increased the initial capacity by 5% and that incremental 5% is pretty valuable for us. And so we look forward to getting through the second quarter and establishing a good run of production as we enter the second half of this year,” stated Johnson.

Dow 30 component Chevron Corporation (CVX), through its subsidiaries, engages in integrated energy, chemicals, and petroleum operations worldwide.  To learn more about Chevron (CVX) and to track their progress please visit the Vista Partners Chevron Page.

Vista Partners LLC (”Vista”) is a California Registered Investment Advisor based in San Francisco. Vista delivers timely and relevant insights via the website: www.vistapglobal.com with daily stories, weekly market updates, monthly macroeconomic newsletters, podcasts, & Vista’s proprietary equity and market research to help you stay informed and stay competitive. Vista’s mission is to invest partner capital while arming investors with a comprehensive global financial perspective across all market sectors. Vista also seeks to provide select issuers with actionable advice regarding fundamental development, corporate governance, and capital market directives.

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(Read Original Story: Chevron to shut Australia Gorgon Train 3 for weld inspection, maintenance in Q2 in Reuters)


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