kitimat LNGTerrace, British Columbia, Canada

In December 2019, Chevron Canada Limited (Chevron) announced its plan to divest its 50 percent interest in the proposed Kitimat LNG Project in British Columbia. This decision was a part of Chevron’s global portfolio optimization effort focused on improving returns and driving value.  Despite the many challenges posed by COVID-19, Chevron engaged in a process to divest while continuing to work with its joint venture partner, Woodside, on agreed project activities that brought value to the asset or were required for regulatory and operational compliance. At this time, it is Chevron’s intent to cease Chevron-funded further feasibility work for the proposed Kitimat LNG Project.  Chevron’s other assets in Canada are not included in this decision. This decision only impacts the proposed Kitimat LNG Project.