Chevron Corporation (NYSE:CVX) reportedly ruled out taking an equity stake in Woodside Energy Group Limited (NYSE:WDS) upcoming acquisition of Driftwood LNG in Louisiana.
Colin Parfitt, head of midstream operations, told Reuters that Chevron can effectively monetize its U.S. gas without converting it to LNG.
The decision reflects the company’s earlier choice to bypass investment in U.S. LNG plant construction and sell its gas directly to the market instead.
In July 2023, Chevron executives said in an interview that the company is confident in its ‘buy-rather-than-build’ strategy, which an S&P Global report highlighted.
During the interview, the company’s executives stated that Chevron’s U.S. LNG offtake contracts support its goal of increasing international sales of Permian Basin production, while ...
