Chevron and its partners have given approval for the development of the Gorgon liquefied natural gas venture, which could cost at least $37 billion during its initial phase. The first output from the project is expected in 2014, Chevron said. The venture, which is expected to yield 15 million metric tons per year, will be constructed on the Barrow Island Reserve, an environmentally sensitive area off of Australia's western coast.

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