US company Chevron confident about its investments in Angola and Australia

8 October 2009

Buenos Aires, Argentina, 8 Oct – US oil company Chevron is confident about its capacity to invest in its liquid natural gas projects in Angola and in Australia, one of the executive vice presidents of the group said in Buenos Aires Wednesday.

George Kirkland also said that multi-million dollar investments were needed over the next 20 years in natural gas, if the sector wanted to meet growing world demand for this resource.

The natural ags project in Angola “is one of the biggest underway in Africa,” Kirkland said noting that Angola LNG irá would tap into the natural gas from some shallow and deep water oil blocks to produce around 5.2 million tonnes of gas epr year to export to the US, Europe and Asia.

“We expect Angola LNG to start operating in 2012 and when it starts it will make the development of oil exploration at sea easier, will supply the domestic market and create a new industry in Angola,” Kirkland said.

Speaking at the 24th World Gas Conference held in Buenos Aires until Friday, Kirkland said that the company projected a 50 percent rise in world demand for natural gas by 2030. (macauhub)