Chevron 2007 Annual Report Download - page 27

Download and view the complete annual report

Please find page 27 of the 2007 Chevron annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 108

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108

25
Gas
Strategy: Commercialize our equity gas
resource base while growing a high-impact
global gas business.
Over the next two decades, growth in demand for natural gas
is expected to outpace that for crude oil. Chevron has vast
natural gas resources and is well positioned to help meet grow-
ing demand (see Pages 12–13). We hold the largest natural gas
resource position in Australia and have significant holdings
in western Africa, Bangladesh, Indonesia, Kazakhstan, North
America, South America, Thailand and the United Kingdom.
A milestone was achieved in 2007 when federal and state gov-
ernments gave environmental approval to move forward with
developing the Greater Gorgon Area offshore Western Australia.
Plans call for building a liquefied natural gas (LNG) and domestic
natural gas plant on Barrow Island and transporting the LNG to
markets in Asia. Another milestone was reached when the gov-
ernment and partners agreed to move an LNG facility in Angola
into the construction phase.
Above, left to right: Agbami floating production, storage and offloading vessel at the shipbuilder’s yard in Okpo, South Korea, and now in place at the Agbami Field,
offshore Nigeria; Bibiyana Gas Plant, Bangladesh: (clockwise, from top) A.K.M. Mezbaul Haque — maintenance specialist, Mohim Uddin (contractor) — utility helper,
A.B.M. Ataul Haque — operations specialist, Abdul Halim — maintenance specialist; Truck Shop, Muskeg River Mine, Athabasca Oil Sands Project, Alberta, Canada.
We also entered into agreements to supply additional natural
gas to Trinidad and Tobago for a term of at least 11 years, to
export natural gas from Colombia to Venezuela, and to develop
and operate a large natural gas field in central China.
In Bangladesh, production began from the Bibiyana natural
gas field, one of the largest producing gas fields in the country.
By mid-2008, the first shipments of natural gas are expected to
begin from Nigerian operations to the neighboring countries of
Benin, Ghana and Togo. The associated 421-mile (678-kilometer)
pipeline is the first regional natural gas transmission system to
be developed in sub-Saharan Africa.
Chevron also is participating in the development of a gas-to-
liquids (GTL) business. Through our GTL joint venture, Sasol
Chevron, we are providing management, operating and techni-
cal services for an approximately 34,000-barrel-per-day GTL
plant under construction in Nigeria.