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Exxon & QP Greenlight Golden Pass LNG Export Project; Construction Starting in 1Q19
$10 Billion Project Will Add 15.6 Mtpa in Export Capacity by 2024

February 5, 2019

By James Bevan @Criterion Research

ExxonMobil and Qatar Petroleum have mutually agreed to move forward on the planned 15.6 Mtpa Golden Pass LNG Export Terminal.  Construction will before the end of March 2019, with commercial operation ramping up in 2024.  Golden Pass consists of three planned trains, each with a capacity of 5.2 Mtpa

The project will have capital costs of $10 billion and natural gas will be sourced via the Golden Pass Pipeline which is stated to interconnect with the following systems:

  • Transco
  • TETCO
  • TGP
  • NGPL
  • FGT
  • HPL Texoma
  • Golden Triangle Storage
  • KM Tejas
  • KM Texas


Golden Pass is 70% owned by Qatar Petroleum and 30% by Exxon.  In April 2018, QP cited that their FID would be contingent on their chance to invest into Shale Gas, but it remains to be seen if that will be part of the recent decision.


Related Items

Entities
ExxonMobil Corporation
Qatar Petroleum

Projects
Golden Pass LNG Train 1 (subscriber access)
Golden Pass LNG Train 2 (subscriber access)
Golden Pass LNG Train 3 (subscriber access)
Golden Pass Pipeline Project (subscriber access)

Categories
Oil and Gas
LNG

Commodities
Natural Gas

Sub Commodities
LNG

Tags
LNG Exports

Regions
Gulf Coast

Countries
United States
Qatar

Related News

  • ExxonMobil and Qatar Petroleum Announce Decision to Proceed with Golden Pass LNG Export Project

    February 5, 2019 - ExxonMobil and partner Qatar Petroleum announced a final investment decision to proceed with the development of the Golden Pass LNG export project located in Sabine Pass, Texas. Construction is scheduled to commence in 1Q19 and the facility is anticipated to start up in 2024. The project will contain the capacity to produce roughly 16 million tons of LNG per year and is expected to cost over $10 billion. Working interests in the Golden Pass LNG export project are 70% Qatar Petroleum and 30% ExxonMobil.
  • Qatar Petroleum Intends to Invest $20 Billion in U.S.; Including Golden Pass LNG & Other Assets

    December 18, 2018 - Following Qatar's exit from OPEC, Qatar Petroleum disclosed plans to invest at least $20 billion in the U.S. over the next several years, including investment into LNG (Golden Pass) and into conventional and unconventional oil & gas assets. Qatar is a majority owner in the Golden Pass LNG Development, and they expect to make an FID by January 2019. Looking ahead, QP plans to announce its foreign partners for Golden Pass LNG by the middle of next year. QP reported that they may self-finance their LNG expansion program if no "good offers" are made. Saad al-Kaabi, QP's chief executive, stated: "Mark my words, if I don't get a good deal, we go alone."
  • WSJ Reports that ExxonMobil In Talks with Qatar Over Investment In U.S. Shale Gas

    April 10, 2018 - The Wall Street Journal has reported that ExxonMobil and Qatar Petroleum are in early talks concerning a joint venture that would allow Qatar to invest into U.S. shale gas development. Exxon's holdings in the Lower 48 run from North Dakota to West Texas. The WSJ cited that "Exxon’s operations in Qatar are hugely profitable and it also needs Doha’s financial support and signoff to proceed on a massive $10 billion natural gas-export project in East Texas." Exxon is currently jointly developing the proposed Golden Pass LNG Export Terminal with Qatar Petroleum and ConocoPhillips. Qatar Petroleum has reportedly held off developing the terminal until it owns U.S. natural gas supplies.

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