CVX shifts strategy, focusing on direct gas sales instead of U.S. LNG plant investment and leveraging partnerships amid regulatory challenges.

Chevron does not want to invest in the construction of U.S. LNG plants, as it is not the best use of the company's capital and it can easily sell its U.S. gas, said a top official on Thursday.

Chevron (NYSE:CVX) does not plan to invest in the construction of U.S. liquefied natural gas plants, which are not the best use of its capital and the company can easily sell its U.S. gas, the head of its midstream business told Reuters in an interview on Thursday.

The company’s strategy in the US liquefied natural gas (LNG) market now involves sales and purchase agreements (SPAs) with LNG developers.

Chevron does not want to invest in the construction of U.S. LNG plants, as it is not the best use of the company's capital and it can easily sell its U.S. gas.