Chevron to invest $29 million to address CO2 injection shortfall at Australia LNG site

Chevron Corp said on Thursday its Australian unit will invest A$40 million ($29.49 million) to address a carbon dioxide injection shortfall at its Gorgon liquefied natural gas facility in Western Australia.

Under the investment, Chevron Australia will address the shortfall over a five-year period, and acquire and surrender 5.23 million greenhouse gas offsets, it said in a statement.

($1 = 1.3563 Australian dollars)

(Reporting by Sameer Manekar in Bengaluru; Editing by Ramakrishnan M.)