Chevron's Australian Business Signs Long-Term Natural Gas Deal Starting in 2028

Key takeaways

• Chevron’s new five‑year gas deal with South32 underpins its Australian gas supply and supports regional industry stability.
• 55 petajoules of gas over five years
• 40% of Western Australia’s domestic gas supply
• EPS

  Earnings per share — profit for one share of the company, in dollars.

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  estimate $4.88

What happened

Chevron Corporation’s Australian arm has signed a five‑year natural gas supply deal with South32’s Worsley Alumina plant, committing to deliver 55 petajoules of gas starting January 1, 2028. The agreement extends Chevron’s long‑standing partnership with the alumina producer and will support the plant’s operations in Western Australia. Chevron’s Australian portfolio already supplies about 40 % of the state’s domestic gas through its Gorgon and Wheatstone fields.

Why it matters

The deal locks in a steady gas supply for a major industrial customer, reinforcing Chevron’s position in Western Australia’s energy market. It signals continued confidence in the region’s gas demand and supports local employment and economic activity. The contract also aligns with state policy to secure reliable…

Short-term and longer-term

Short-term. Over the next few weeks, traders should watch for Chevron’s Q4 earnings on Oct.

Longer-term. For investors, the long‑term nature of the agreement adds a predictable income stream that could enhance Chevron’s dividend sustainability and support its valuation.