Press Release

02/13/19
Chevron Signs New Gas Agreement with GS Caltex

SINGAPORE--(BUSINESS WIRE)--Feb. 13, 2019-- Chevron U.S.A. Inc, a wholly owned subsidiary of Chevron Corp, announced the signing of a sales and purchase agreement with GS Caltex Corporation for the delivery of liquefied natural gas (LNG) to South Korea from Chevron’s global supply portfolio.

As a joint venture between Chevron and GS Energy, GS Caltex has signed a long-term agreement and will begin receiving LNG in October 2019.

Chevron’s President of Global Gas, Hugh Connett stated the agreement is another indication of the significance of the long-standing relationship between Chevron and GS Caltex.

“We’re proud of our partnership with GS Caltex and we welcome this opportunity to build on that relationship by supplying LNG to South Korea’s growing market,” Connett said.

Chevron has an existing LNG sales and purchase agreement with GS Caltex executed in 2009.

Chevron Corporation is one of the world's leading integrated energy companies. Through its subsidiaries that conduct business worldwide, the company is involved in virtually every facet of the energy industry. Chevron explores for, produces and transports crude oil and natural gas; refines, markets and distributes transportation fuels and lubricants; manufactures and sells petrochemicals and additives; generates power; and develops and deploys technologies that enhance business value in every aspect of the company's operations. Chevron is based in San Ramon, Calif. More information about Chevron is available at www.chevron.com

CAUTIONARY STATEMENTS RELEVANT TO FORWARD-LOOKING INFORMATION FOR THEPURPOSE OF “SAFE HARBOR” PROVISIONS OF THE PRIVATE SECURITIES LITIGATIONREFORM ACT OF 1995

This press release contains forward-looking statements relating to Chevron’s operations that are based on management’s current expectations, estimates and projections about the petroleum, chemicals and other energy-related industries. Words or phrases such as “anticipates,” “expects,” “intends,” “plans,” “targets,” “forecasts,” “projects,” “believes,” “seeks,” “schedules,” “estimates,” “may,” “could,” “should,” “budgets,” “outlook,” “on schedule,” “on track” and similar expressions are intended to identify such forward-looking statements. These statements are not guarantees of future performance and are subject to certain risks, uncertainties and other factors, many of which are beyond the company’s control and are difficult to predict. Therefore, actual outcomes and results may differ materially from what is expressed or forecasted in such forward-looking statements. The reader should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Unless legally required, Chevron undertakes no obligation to update publicly any forward-looking statements, whether as a result of new information, future events or otherwise.

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Source: Chevron Corporation

Cam Van Ast (Perth) +61 8 9216 4462