Energy giant Chevron is looking to sell its 16.6 per cent stake in Australia’s largest and longest-running liquefied natural gas project, the $34 billion North West Shelf joint venture.
The United States-based company on Thursday said it had made the decision to market its share after a “number of unsolicited approaches” from potential buyers. Analysts have estimated that the stake could be worth up to $5 billion.
“Chevron Australia has made the decision to market its non-operated one-sixth interest in the North West Shelf project following a number of unsolicited approaches from a range of credible buyers,” the company said.
“Chevron has been an active participant in the North West Shelf project since its foundation more than 30 years ago and we’re proud of its track record as a safe, competitive and reliable supplier of domestic gas and LNG.”
