Aussie Cap-And-Trade Threatens LNG Plan: Chevron

Law360, New York (October 20, 2008, 12:00 AM EDT) -- Australia's planned national emissions trading program could jeopardize investments in Chevron Corp.'s multibillion-dollar Gorgon and Wheatstone liquefied natural gas projects, the oil bigwig reportedly announced Monday.

By not providing a way to compensate LNG exporters, the country's current proposed trading scheme could significantly drive up operating costs for the two ventures and make investments less viable, Chevron Australia's managing director, Roy Krzywosinski, said, according to various news reports.

“The way the ETS is currently proposed leaves the LNG industry bearing the full economic costs, and is...
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