Chevron, however, may be able to use the expertise and scale in LNG development gained from its massive Wheatstone LNG project off the coast of Australia. Plans there have seen several sizable increases in construction costs, which are now estimated at $54 billion. But the facility is still on track to start making shipments in 2015. And Asian markets are hungry to absorb whatever output is produced.
Asian markets will, of course, be key to Kitimat’s eventual profitability. And with demand for fuels such as LNG expected to double on the continent by 2025, there’s plenty of room to expand output.