Chevron seeks to expand its global liquefied natural gas (LNG) portfolio. The company focuses on opportunities in Argentina's Vaca Muerta shale play and the Eastern Mediterranean.
This expansion aims to satisfy growing global demand. It also addresses energy security concerns. These concerns stem from recent market disruptions in the Middle East and the war in Ukraine.
Freeman Shaheen, Chevron's President of Global Gas, highlighted this strategy. He spoke at the Gastech conference in Bangkok.
The expansion diversifies Chevron's supply sources and contracting structures.
Chevron also explores opportunities in Australia and Africa. These efforts aim to bolster its LNG capacity. The company's current LNG capacity stands at about 20 million metric tons per year.