US oil and gas supermajor Chevron is the major LNG producer in WA with its Gorgon and Wheatstone LNG projects and a share in the North West Shelf project.
The Gorgon and Wheatstone LNG projects are now enjoying cash margins of more than $US30 a barrel at a $US50 price and production from the $111 billion mega-projects is expected to increase.
Chevron's Wheatstone LNG project may need to offset more than one million tonnes of greenhouse gas emissions each year if restrictions that were removed by Colin Barnett in 2013 are reinstated.
Chevron chief executive John Watson says his company should have done more engineering and planning before it sanctioned the Gorgon LNG project in 2009.
Too much hot air around the LNG trains on Barrow Island has caused Chevron to flag a production cut at Gorgon as the US giant tackles problems onshore and offshore.
Chevron has surrendered in its $1B fight over interest charged on inter-company loans, leaving an emboldened ATO ready to tackle more multinationals for a predicted $10B haul.
The credibility of estimates from US giant Chevron of the tax it will pay for its LNG production has been undermined by questions from the Senate committee on corporate tax avoidance.
In early 2017 Chevron's rush to ship the first LNG from the $US54 billion Gorgon project to meet its chief executive's deadline had disastrous consequences.
The first two processing facilities at the Gorgon LNG project are operating near capacity and commissioning of the final train is under way, with production expected early in the second quarter of 2017.
