Gas and Midstream

Unlocking the Full Potential of Natural Gas

Our world depends on clean natural gas to help meet growing
energy needs. The International Energy Agency estimates gas
use will grow over 50 percent through 2035, with demand in
Asian economies especially strong. Developing more of this
abundant and efcient resource is critical to help fuel the
global economy, curb carbon emissions and enhance the
quality of life worldwide.
Chevron: Your Natural Gas Partner
Chevron is an established, global leader in integrated, multi-partner natural gas
projects, with multi-billion dollar developments under way in Africa, Australia,
China, Indonesia, North America, Vietnam and other locations. We produce
approximately 5 billion cubic feet per day from projects onshore and offshore,
tight formations, and shale and we are a recognized leader in safely developing
deep, high-pressure, high-temperature and sour reservoirs. Our operations
supply pipeline gas to industry, power plants and consumers worldwide. By
2020 we will be one of the largest producers of liqueed natural gas (LNG) in
the world and a major LNG shipper. Were also developing a major gas-to-liquids
project in Nigeria.
Today more than ever, successful natural gas developments require a clear focus
on the entire value chain. Through our upstream and technology businesses, we
offer world-class capability in exploration and resource development. Our Gas
and Midstream organization links the wellhead to the marketplace with expert
teams devoted to gas commercialization and marketing, shipping, pipelines, and
power generation. Chevrons global commitment to the disciplined application
of our Operational Excellence Management System ensures that every project
maintains a constant focus on safety for employees, contractors and neighbors.
Our culture and processes ensure that our facilities are designed and operated
to deliver reliable supplies of clean natural gas safely and efciently, while
protecting people and the environment.
Fueling generations to come with natural gas requires nancially strong,
experienced companies with superior technology and a commitment to safety
and environmental stewardship. Most of all, natural gas development requires a
focus on mutually benecial partnerships with host countries, customers, industry
and local communities and a commitment to shared investment in a secure
energy future. A proven partner and performer, Chevron sees tremendous
opportunities for protable natural gas development throughout the world.
Gas and Midstream | 1
Left: A central processing platform
is moved into place at Platong II in the
Gulf of Thailand. The natural gas project
came online in the fall of 2011 and will
help feed the growing demand for energy
in Thailand.
Far Left: The Angola LNG project has
provided signicant local employment
and skill development as well as signicant
health, educational and economic infra-
structure projects and programs located
in Zaire Province.
Cover: Chevrons $37 billion Gorgon
liqueed natural gas project offshore
Western Australia is our largest investment
to date. Shown here is the materials ofoad-
ing facility, an essential component of the
infrastructure being built for the project
at Barrow Island.
Growing World Gas Supplies With Chevron
2 | Gas and Midstream
With demonstrated capabilities across the natural gas value chain, Chevron is the premier gas
partner, helping host countries increase natural gas production and use. As we work to produce
our proved gas reserves of more than 29 trillion cubic feet (Tcf), we see great potential to develop
our total unrisked resource base of more than 160 Tcf and to form new partnerships.
Tight Gas: United States
The Piceance Basin project in Colorado targets
3.5 Tcf of potentially recoverable gas.
Gas-to-Liquids: Nigeria
The Escravos GTL project will produce premium quality
low-sulfur diesel fuel and naphtha, transforming formerly-
stranded gas resources into valuable exports.
Natural Gas from Shale: United States
Since 2011, Chevron has acquired 1.5 million leased acres
of natural gas from shale. With comprehensive drilling
and appraisal programs, and future exploration potential,
Chevron continues to grow its portfolio.
Gas Commercialization: Nigeria
Chevrons Escravos gas project in Nigeria is helping to
end routine aring and provide new energy for regional
markets and power plants.
Deepwater: United States
Major new Chevron projects in the Gulf of Mexico
will produce oil and gas, with more exploration and
projects on the horizon.
Pipelines: Africa
Chevron led multi-country negotiations and, with its
partners, built the 421-mile (678-km) West Africa Gas
Pipeline to supply Nigerian gas to neighboring countries.
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Sour Gas: China
Chevron is building the $4.7 billion Chuandongbei project
in Chengdu, China, leveraging our experience in safely
developing sour gas in the United States and Kazakhstan.
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LNG: Angola
A joint venture with Chevron, Sonangol Angolas
national oil company and other partners, Angola LNG
will commercialize natural gas that otherwise might
have been re-injected or ared.
8 Pipelines: United States
Chevron is a leading developer of essential gas
gathering and transport systems in the United
States, as well as supporting pipeline projects
for new oil and gas projects in deepwater
Gulf of Mexico.
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Power Generation
Chevron provides power plant development expertise,
including technical, regulatory, commercial and operational
capabilities, in support of power projects around the world.
Gas and Midstream | 3
Exploration: Australia
Chevron has a highly successful exploration program
offshore Western Australia, adding to our extensive
natural gas resource base.
Gas-to-Power: Vietnam Block B
Chevrons Block B gas project is designed to supply
natural gas from the Malay Basin to existing and
proposed power plants in southern Vietnam.
Deepwater Gas: Indonesia
Gendalo-Gehem, Indonesias rst ultra-deepwater
project, is expected to produce more than 1 billion cubic
feet (Bcf) of natural gas per day.
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LNG: Australia
The Chevron-led Gorgon project, which includes the worlds
largest CO
2
sequestration system, and the Wheatstone LNG
and domestic natural gas projects, will enhance Asia-Pacic
and Western Australia energy supplies for decades.
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Conventional Natural Gas Production
We have ongoing signicant natural gas production
in Australia, Bangladesh, Colombia, Gulf of Thailand,
Indonesia, Kazakhstan, Trinidad and Tobago, the
United States, and Venezuela.
Natural Gas from Shale: Exploration
In Canada and in parts of Central Europe, Chevron has
various stages of exploration activities under way for
potential development of gas resources.
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Photo: In 2011, Chevron added 1.2 Tcf of proved reserves
in the Marcellus Shale.
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Chevron: The Proven Global Gas Partner
4 | Gas and Midstream
As the leading international oil company in Asia-Pacic, Chevron deploys
a full range of technical capabilities to help increase the natural gas supplies
essential to growing economies. In Australia, Chevron is the operator of the giant
Gorgon and Wheatstone LNG and domestic natural gas projects, which are posi-
tioning Australia to become one of the worlds largest LNG exporters and a key,
long-term energy partner to Asian economies. Representing a combined capital
investment of $66 billion, with the initial phases designed to export around 24
million tons of LNG per year. Anchored by long-term supply contracts with Japan
and other key Asian markets, the projects are expected to tap tens of trillions of
cubic feet of offshore reserves, create thousands of jobs, help drive the regional
economy and contribute billions of dollars in revenue to the government in the
decades ahead. We continue to explore for new gas supplies offshore, employing
state-of-the-art subsurface mapping technologies to pinpoint and evaluate targets
and new elds, drilling more than one dozen major discoveries since 2009. Were
also a partner in the North West Shelf Venture, which has exported LNG since 1989.
Focused on the full natural gas value chain, Chevron is a proven, long-term partner in gas
development. We combine exploration, development, transportation and market strategies to
nd new resources and ensure long-term project stability and growth potential.
Gas and Midstream | 5
In other parts of Asia-Pacic, weve become the largest gas producer in Thailand,
and our Platong II project, started up in 2011, will increase the countrys gas pro-
duction by 10 percent. Chevron is also the largest gas producer in Bangladesh,
fueling that nations power plants. Were applying our expertise in sour gas
development to Chinas Chuandongbei project, and in Vietnam, were working
to develop offshore elds to supply needed gas for power. The Gendalo-Gehem
deepwater gas project in Indonesia is expected to support both LNG exports
and domestic supply.
In North America, Chevron is a top U.S. natural gas supplier, marketer and
pipeline operator, producing around 1.3 billion cubic feet per day from California,
Colorado, Texas, the U.S. Gulf of Mexico and other areas. Were a leader in deep-
water gas development in the Gulf of Mexico; deep gas exploration and produc-
tion on the Gulf of Mexico shelf; and safe production and processing of sour gas.
Our company is a major developer of natural gas from the vast Marcellus Shale
in the Appalachian region and is exploring for shale gas on more than 250,000
acres in western Canada.
In Africa, were partnering with Sonangol on the development of the rst
LNG export project in Angola. This complex of offshore and onshore facilities
is reducing gas aring, optimizing gas-enhanced oil production and increasing
gas commercialization. In Nigeria, weve had upstream operations for more than
50 years. Currently, Chevron supplies gas domestically and also to neighboring
countries through the West Africa Gas Pipeline. In 2013, we expect to start up
our 33,000 barrel-per-day Escravos gas-to-liquids plant.
In Latin America, Chevron is the top natural gas producer in Colombia,
with more than 640 million cubic feet of daily production, and has interests in
producing gas elds offshore Trinidad and Tobago. In Venezuela, Chevron has
discovered signicant offshore gas resources.
In Europe, Chevron is exploring for gas from shale formations in areas of
Central Europe, aiming to develop this vast resource with safe fracturing
technologies proved in the United States. The company is a long-time oil and
gas producer in the U.K. North Sea, contributing signicant volumes to Britains
gas supply.
In Eurasia, complex gas re-injection facilities enhance liquids production at
our Kazakhstan projects, where we have developed industry-leading capability
in managing sour, high-pressure reservoirs.
Above: The Chuandongbei Gas Project,
one of the largest onshore energy projects
in Asia-Pacic, will include two sour-gas
processing plants connected to ve natural
gas elds.
Left: Shown here are processing facilities
under construction on Barrow Island. First
deliveries of LNG are expected in late 2014.
Chevron is the largest holder of natural gas
resources in Australia.
Chevron Natural Gas (CNG) markets natural gas to wholesale and large end-use
consumers and develops strong partnerships with utility and industrial customers
and pipeline operators, and ranks among the leading marketers of natural gas in
North America. CNG maximizes the value of Chevrons equity gas and sustains
Chevrons competitive North American/U.K. natural gas position.
Gas Commercialization and CNG negotiate supply commitments to ensure commer-
cial viability and long-term protability with gas and LNG sales and trading ofces
in Houston, London, Perth, Singapore and Tokyo that continually link Chevron gas
to the best, long-term and spot-market opportunities.
Chevron Shipping Company and Chevron Pipe Line provide decades of experience
in the transportation and distribution of Chevrons gas and oil assets connecting
our upstream developments to end-users throughout the global marketplace.
The Chevron Gas and Midstream organization encompasses ve
business units that together integrate knowledge, experience
and skill to ensure that Chevron creates strong, competitive
value chains for all our gas developments.
Within Gas and Midstream, the Gas Commercialization group works closely with
upstream operating companies globally to maximize the value of the companys
equity gas resource base while growing a high-impact global gas business. The
group provides LNG marketing and trading services, contracts and negotiation
support, decision and economic analysis, re-gasication technical services, and
market analysis to evaluate and support natural gas business opportunities.
Structured for Value Chain Success
Chevron Natural Gas is headquartered
in Houston, Texas, where employees
and support personnel ensure that
our wholesale, pipeline, utility and
industrial customers receive industry-
leading service.
6 | Gas and Midstream
Chevron Shipping Company (CSC) is responsible for carrying 1 billion barrels of
crude oil and natural gas annually and enjoys an unbeaten record of marine safety
management. CSC operates more than two dozen ships from conventional crude
and product carriers, to high-technology dynamic positioning vessels and LNG
carriers. It provides marine solutions from concept to operations. Key current
activities include providing technical, commercial and operational support to
projects such as Angola LNG, Gorgon and Wheatstone.
In the United States, we own or operate more than 10,000 miles (16,000 km) of
pipelines, and approximately 100 billion cubic feet of natural gas storage capacity
in Canada. Chevron Pipe Line is partnering to provide deepwater pipeline trans-
portation in the Gulf of Mexico that will provide access to major trading hubs and
reneries. Through a subsidiary, we operate the Henry Hub, a major natural gas
trading hub, interconnecting with nine interstate and four intrastate pipelines
and serving as the pricing point for natural gas futures contracts traded on the
New York Mercantile Exchange.

Globally, our shipping
and pipeline experts have been
instrumental in devising efcient LNG
transportation strategies for Australian and
Angolan LNG projects, and in negotiating terms and
plans for cross-border, multi-party gas pipelines in West Africa
and in the United States among others.
Chevron Global Power Company supports gas projects to connect to new
gas-to-power facilities in markets throughout the world. It also delivers self-
generation and cogeneration power solutions for Chevrons oil and gas projects
and reneries worldwide, and provides commercial development and technical
support. The group manages Chevrons interests in 12 joint-venture power
facilities, primarily cogeneration, in the United States, Thailand and Korea,
and owns a 16.5 megawatt wind farm in the United States.
Gas and Midstream | 7
The Sonangol Sambizanga, one of
three LNG carriers owned by Angolas
national oil company, Sonangol, and
managed by Chevron Shipping
Company. Chevron and Sonangol
mariners serve side-by-side on
the three vessels.
Technologies for Every Gas Challenge
8 | Gas and Midstream
Chevron provides its natural gas projects with superior
technologies and top technical support at every link in the
gas value chain, ensuring maximum resource recovery and
safe, reliable and efcient operations worldwide.
We focus specialists, teams and research on key areas such as exploration;
deep-water ow assurance; sour-gas processing; high-pressure wells; tight and
shale-formation fracturing; gas-to-liquids conversion; carbon capture and storage;
gas processing and treating; and LNG liquefaction, storage, transportation and
re-gasication. Our unique, integrated approach combines seasoned scientists
and engineers with strategic research, proprietary technologies, university
research partnerships and technical alliances with top service companies and
government institutions.
Around the world, our technology companies and research centers in Australia,
the United States and the United Kingdom provide strong support for our gas
projects and future technology needs. And our major gas projects are equipped
with new information technologies to enhance reservoir surveillance and
management, automate production systems and connect eld operations to
central technical support centers around the clock.
To strengthen relationships and help build new generations of energy
professionals, Chevron shares our technical expertise with long-term country
partners, providing training, knowledge transfer and technology transfer.
Helping to see gas deep beneath Earths surface, Chevron uses three-dimensional
visualization models that enable drilling in complex environments.
Tri Energy Company is a Chevron jointly
owned 700 megawatt combined-cycle
power plant facility in Ratchaburi,
Thailand, that supplies electrical power
to Thailands National Power Authority
under a power purchase agreement.
Building Communities;
Supporting Local Economies
Partnership means investing in people to develop strong,
sustainable local economies with healthy, thriving populations.
Chevron natural gas projects contribute to host communities by creating
jobs, purchasing goods and services, paying taxes and royalties, and creating
economic opportunities. We are committed to hiring, training and promoting
the local workforce and providing opportunities to gain experience in Chevrons
global operations.
We work with local leaders and nongovernmental organizations to support
schools and universities, job training, health and small-business development
programs. Our comprehensive Environmental, Social and Health Impact
Assessment process identies, analyzes and develops ways to enhance gas
project benets and mitigate environmental, social and health issues.
Protecting the health and safety of our workforce and the environment is a
core value at Chevron. Our Operational Excellence Management System guides
our work in safety, health, environment, reliability and efciency. We promote
safety in the eld, among contractors, on the road and in the ofce everywhere
we operate.

Protecting people is not just the way we do business, its part of our values who we are
as individuals and collectively as a company. Our goal is zero incidents always.
Chevron, in partnership with the govern-
ment of Indonesia and others, helped build
the Aceh Polytechnic to provide vocational
training in applied technology elds and
meet the needs of local industry.
of alternate-energy sources or product substitutes; technological developments; the results of operations and nan-
cial condition of equity afliates; the inability or failure of the companys joint-venture partners to fund their share
of operations and development activities; the potential failure to achieve expected net production from existing and
future crude oil and natural gas development projects; potential delays in the development, construction or start-up
of planned projects; the potential disruption or interruption of the companys net production or manufacturing
facilities or delivery/transportation networks due to war, accidents, political events, civil unrest, severe weather
or crude oil production quotas that might be imposed by the Organization of Petroleum Exporting Countries; the
potential liability for remedial actions or assessments under existing or future environmental regulations and litiga-
tion; signicant investment or product changes under existing or future environmental statutes, regulations and
litigation; the potential liability resulting from other pending or future litigation; the companys future acquisition
or disposition of assets and gains and losses from asset dispositions or impairments; government-mandated sales,
divestitures, recapitalizations, industry-specic taxes, changes in scal terms or restrictions on scope of company
operations; foreign currency movements compared with the U.S. dollar; the effects of changed accounting rules
under generally accepted accounting principles promulgated by rule-setting bodies; and the factors set forth under
the heading Risk Factors on pages 29 through 31 of the companys 2011 Annual Report on Form 10-K. In
addition, such statements could be affected by general domestic and international economic and political
conditions. Other unpredictable or unknown factors not discussed in this presentation could also have material
adverse effects on forward-looking statements.
Certain terms, such as unrisked resources, unrisked resource base, recoverable resources, and oil in place,
among others, may be used in this presentation to describe certain aspects of the companys portfolio and oil and
gas properties beyond the proved reserves. For denitions of, and further information regarding, these and other
terms, see the Glossary of Energy and Financial Terms on pages 58 and 59 of the companys 2011 Supplement
to the Annual Report and available at Chevron.com.
Cautionary Statement Relevant to Forward-Looking Information for the Purpose of Safe Harbor Provisions of
the Private Securities Litigation Reform Act of 1995: This brochure contains forward-looking statements relating
to Chevrons operations that are based on managements current expectations, estimates and projections about
the petroleum, chemicals and other energy-related industries. Words such as anticipates, expects, intends,
plans, targets, forecasts, projects, believes, seeks, schedules, estimates, budgets, outlook 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, some of which are beyond
the companys control and are difcult 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 presentation. 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.
Among the important factors that could cause actual results to differ materially from those in the forward-looking
statements are: changing crude oil and natural gas prices; changing rening, marketing and chemical margins;
actions of competitors or regulators; timing of exploration expenses; timing of crude oil liftings; the competitiveness
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100% Recyclable
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Located in the Permian Basin
production region in West Texas,
the Keystone Gas Storage facility
is a high-deliverability salt-cavern
storage facility that connects to the
El Paso Natural Gas, Transwestern
Gas Company and Northern Natural
Gas Company pipeline systems.