The project is a JV with Chevron making up 73.6 per cent of the venture, with the Kuwait Foreign Petroleum Corporation, Shell Australia and Apache making up the rest of the consortium.
“Wheatstone will confirm Western Australia (WA) as the world's second-largest supplier of LNG,” ABC reported WA Premier Colin Barnett as saying.
Revenue from Wheatstone is estimated at A$20 billion over a 20-year life-span.
The construction will take approximately six years, and could create up to 3,500 jobs and 3,000 indirect jobs during that phase.
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