Published On: Wed, Feb 6th, 2019

Qatar Petroleum, ExxonMobil to build $10bn Golden Pass LNG export project

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Qatar Petroleum and its partner ExxonMobil have taken a final investment decision (FID) to move forward with the $10+ billion Golden Pass LNG export project in Sabine Pass in Texas.

Golden Pass LNG export project to break ground soon

With the FID taken on the LNG export project, the partners are looking to begin its construction this quarter with a target to commission it in 2024.

The Golden Pass LNG export project, which will have a production capacity of close to 16 million tons per annum (MTPA) of LNG, will comprise three LNG trains. Each of the LNG trains will have a capacity of around 5.2 MTPA.

While Qatar Petroleum owns a stake of 70% in the new LNG export project, ExxonMobil will hold the remaining stake of 30%.

Golden Pass LNG export project FID

Qatar Petroleum, ExxonMobil take FID on Golden Pass LNG export project. Photo courtesy of Qatar Petroleum.

Saad Sherida Al-Kaabi – CEO of Qatar Petroleum, commenting on the Golden Pass LNG export project, said: “The Golden Pass LNG export project is not our first investment in the United States, and is certainly not going to be our last.

“It represents a significant part of the plans that Qatar Petroleum had announced to invest 20 billion dollars in the U.S. energy sector, which we believe would bring great benefits for both the United States and the State of Qatar.”

Golden Pass LNG export project jobs

The Golden Pass LNG export project could create about 9,000 jobs for its five-year construction period. An additional 200 permanent jobs are to be created to oversee the operations of the LNG export project following its commissioning.

The LNG export project is hoped to generate more than $35bn of economic benefits in the US by means of federal, state and local tax revenues through its lifetime.

Commenting on the Golden Pass LNG export project, Darren Woods – chairman and chief CEO of ExxonMobil, said: “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.”

Golden Pass LNG export project contract

ExxonMobil and Qatar Petroleum have given a contract worth over $1 billion to a consortium made up of McDermott International, Chiyoda International and Zachry Group for the engineering, procurement, construction and commissioning (EPCC) of the three LNG trains.

The contract was awarded by their joint venture Golden Pass Products, which is the holding company of the Golden Pass LNG export project, which will join the existing Golden Pass LNG import terminal.

The Golden Pass LNG export project will use the already available infrastructure that includes five LNG storage tanks, two marine berths that accommodate LNG carriers, and the existing Golden Pass Pipeline system.

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