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ExxonMobil & Qatar Petroleum to proceed with Golden Pass LNG export project

Gasoil News - Published on Mon, 11 Feb 2019

Image Source: Splash 247
ExxonMobil and partner Qatar Petroleum have made a final investment decision to proceed with development of the Golden Pass LNG export project located in Sabine Pass, Texas. Construction will begin in the first quarter of 2019 and the facility is expected to start up in 2024. Mr Darren Woods, chairman and chief executive officer of Exxon Mobil Corporation, said that “Golden Pass will provide an increased, reliable, long-term supply of liquefied natural gas to global gas markets, stimulate local growth and create thousands of jobs. The extensive experience of ExxonMobil and Qatar Petroleum provides the expertise, resources and financial strength needed to construct and operate an integrated liquefaction and export facility in the United States.”

The USD 10+ billion liquefaction project will have capacity to produce around 16 million tons of LNG per year. It is expected to create about 9,000 jobs over the five-year construction period and more than 200 permanent jobs during operations. Preliminary estimates by an independent study indicate the project could generate up to USD 31 billion in US economic gains and more than USD 4.6 billion in direct federal, state and local tax revenues over the life of the project.

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Posted By : Rabi Wangkhem on Mon, 11 Feb 2019
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