After many years and a fortune spent, the first Gorgon LNG load has finally sailed. At long last we will begin to recoup some of the dollars we spent. Who knows, the Angola one might be next.
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@3pgf, Yes, at least we have confirmation that ship has left Gorgon. Now what we need is confirmation that there is a full cargo if LNG aboard that ship.
Now that Gorgon is producing, what about ALNG and EGTL? When will we see some $$$ from them?
Haha the Asia Excellance. Well ya sure as heck knew it wasnt gonna be the Australian Excellence!
Thx @-3dfl for the ship location confirmation. At least we know Chevron isnt lying about the shipment leaving Gorgon.
I realized my post was incomplete, but yes, as of right now, the first LNG vessel from Gorgon (Asia Excellence) is underway.
Position Received at: 2016-03-21 08:49
Area: WAUS - Timor Sea
Latitude / Longitude: -7.6565° / 125.3305°
Status: Underway Using Engine
Speed/Course: 17.4kn / 31°
AIS Source: 62 VK6HV
Read more at http://www.marinetraffic.com/en/ais/details/ships/shipid:1894952/mmsi:311000184/imo:9610767/vessel:ASIA_EXCELLENCE#D3FQ0WCTB5rKftT5.99
Has the ship full with LNG really sailed i.e. in transit? Anybody know for sure?
Natural gas is cheaper than pond water. The entire Gorgon/Wheatstone fiasco will bankrupt Chevron. Next step, fire the decision executives and the analysts who approved the project. Name them now. Kirkland was too high up the chain to make the decision, he was just the promoter after the plan got the green light.
@1ktr, one big advocate of LNG was George Kirkland. He is now gone. He wasn't fired either. He retired rich and that fat bastard is probably reading my post, laughing his assoff and sipping the finest scotch whiskey by his private pool.
there is no money in LNG nor there will ever be. Whoever in Chevron decided to invest easy oil dollars in in LNG should be fired!!!
period
Breaking even on year 40 is not turning a profit. I guess a pro-am eagle shot on the 18th hole at Pebble Beach while your company is going down in flames makes everything ok.
You got that right, @1vcp. Concise and accurate.
In about 40 years, we will know if Gorgon earns a profit. The real cost of Watson's folly is more about all that could have been accomplished elsewhere with those 10s of billions of dollars and the crippled state Chevron is in as we enter into a recovery. Yes, cash flow will be generated but the true value of that cash is steeply discounted by the huge losses we took to get there. A total financial cluster f*ck by the worst leadership we have seen at Chevron in awhile.
Chevron would have gotten a better return on an I-10 toll bridge 100' over the top of Baton Rouge. Gorgon will pay out right after Medusa gets a ponytail.
Only two more trains to install, but those signed contracts for 10 years are non-binding. If natural gas gets cheaper on the spot market or the economies of the countries importing the LNG changes for the worse, then goodbye Gorgon and any chance of Chevron recovering a decent ROI. Don't bank on Gorgon or Wheatstone too soon. The jury is still out.
Only 2 more trains to install and get producing.
First (again) gas is in at ALNG.
Don't hold your breath. The jury is still out at Gorgon.