ChevronTexaco to Operate New LNG Carrier

ChevronTexaco Shipping Co. LLC said one of its affiliates - Chevron Transport Corp. Ltd. - will serve as the operator of the North West Shelf Venture (Venture) Gas Project's newest vessel, the Northwest Swan. The vessel is currently planned to deliver LNG from the project's Western Australian operations to customers in Japan. Korea and China, as well as provide opportunities to deliver into the LNG spot market.

The membrane containment system ship was built in Korea at the Daewoo Shipbuilding and Marine Engineering shipyard in Okpo. The vessel measures 941.5 ft. (287 m) long, with a beam of 142.4 ft. (43.4 m), a draft of 37.7 ft.

(11.5 m) and a capacity of 138,500 cu.

m. Participants in the North West Shelf Venture, each of whom hold an equal interest, are: Woodside Energy Ltd.

(operator); ChevronTexaco Australia Pty Ltd.; BHP Billiton Petroleum (North West Shelf) Pty Ltd.; BP Developments Australia Pty Ltd.; Japan Australia LNG (MIMI) Pty Ltd.; and Shell Development (Australia) Proprietary Limited.

In July 2003, ChevronTexaco Global Gas was formed to commercialize the company's existing natural gas resource base and enable the creation and development of new natural gas growth opportunities worldwide. The organization includes — ChevronTexaco Natural Gas, ChevronTexaco Shipping Co., Chevron Pipe Line Co., Global Power Generation, North American Regasification Ventures and International Marketing & Business Development. ChevronTexaco is one of the world's largest producers and marketers of natural gas, producing approximately 4.4 billion cubic feet of natural gas a day.

Maritime Reporter Magazine, page 43, Apr 2004

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