Chevron Canada Limited (Chevron) plans to exit its entire 50 percent working interest in the Kitimat LNG Project in British Columbia. The Kitimat LNG Project decision is part of Chevron’s global portfolio optimization effort focused on improving returns and driving value.

Although Kitimat LNG is a globally competitive LNG project, the strength of Chevron Corporation’s global portfolio of investment opportunities is such that the Kitimat LNG Project will not be funded by Chevron and may be of higher value to another company.

Chevron intends to commence soliciting expressions of interest for its interests in the Kitimat LNG Project. No timeline has been set to conclude this process.

This decision only impacts Chevron’s interests in the Kitimat LNG Project. Chevron’s other assets in Canada are not included in this decision.

Chevron will continue to work closely with our joint venture partner Woodside, government and First Nations partners during this process.

About Kitimat LNG Project

The proposed Kitimat LNG Project is a 50/50 joint venture between Chevron Canada Limited (Chevron) and Woodside Energy International (Canada) Limited (Woodside). The Chevron-operated project comprises upstream resource assets in the Liard and Horn River Basins in northeast B.C.; the 471-km Pacific Trail Pipeline (PTP); and a natural gas liquefaction facility at Bish Cove near Kitimat. The Kitimat LNG Plant includes up to three LNG trains totalling 18 million tonnes per annum (6.0 MTPA/train), and is an all-electric plant powered by clean, renewable hydroelectricity from BC Hydro.

Kitimat LNG has established First Nations partnerships that are unique in the Canadian energy industry and has received strong support from local Indigenous communities across the entire value chain. Kitimat LNG has a benefits agreement with the Haisla Nation for the LNG Plant that is located on Haisla Nation Reserve land, and an agreement with all 16 First Nations along the proposed Pacific Trail Pipeline route through the First Nations Limited Partnership (FNLP). These agreements include training, employment, goods and services contracting, environmental stewardship and financial benefits to our First Nation partners.

About Chevron

Chevron Corporation (NYSE:CVX) is one of the world’s leading integrated energy companies. Through its subsidiaries that conduct business worldwide, the company is involved in virtually every facet of the energy industry. Chevron explores for, produces and transports crude oil and natural gas; refines, markets and distributes transportation fuels and lubricants; manufactures and sells petrochemicals and additives; generates power; and develops and deploys technologies that enhance business value in every aspect of the company’s operations. Chevron is based in San Ramon, Calif.

"Reducing greenhouse gas emissions is a global issue that requires global engagement and action," said Wirth. “We are taking action, while continuing to deliver the affordable, reliable, ever-cleaner energy that enables human progress.”