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Chevron Corp., the second-largest U.S. oil company, said recently it plans to begin construction of a $3.1 billion natural gas project in the Gulf of Thailand, the Associated Press reported.
The Platong Gas II development is designed to boost natural gas processing capacity by 420 million cubic feet per day, Chevron said. The company said the project has the capacity to meet 14 percent of Thailand''s demand for natural gas.
Chevron holds a 69.8 percent stake in the project. Mitsui Oil Exploration Co. Ltd. owns 27.4 percent and PTT Exploration and Production Public Co. Ltd. holds 2.8 percent.
Startup is scheduled for the first quarter of 2011.
The Platong Gas II development is designed to boost natural gas processing capacity by 420 million cubic feet per day, Chevron said. The company said the project has the capacity to meet 14 percent of Thailand''s demand for natural gas.
Chevron holds a 69.8 percent stake in the project. Mitsui Oil Exploration Co. Ltd. owns 27.4 percent and PTT Exploration and Production Public Co. Ltd. holds 2.8 percent.
Startup is scheduled for the first quarter of 2011.
