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ExxonMobil, Qatar Petroleum sign deal for natural gas liquefaction project in Texas

May 13, 2013
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The agreement establishes a commercial framework to sell up to the full 15.6 million metric ton annual (MTA) output of the Golden Pass Products liquefaction project.

ExxonMobil Corp. and Qatar Petroleum International (QPI) have signed a deal for a proposed liquefaction project at the Golden Pass LNG terminal facility in Sabine Pass, Texas, the companies announced May 9.

Golden Pass Products LLC, a subsidiary created by ExxonMobil and QPI, will operate the facility.

The agreement establishes a commercial framework to sell up to the full 15.6 million metric ton annual (MTA) output of the Golden Pass Products liquefaction project and provides shipping and sales opportunities to existing and new markets, including leveraging long-term arrangements for international imports via the United Kingdom’s South Hook facility.

RELATED: Japan, India invest in US liquefied natural gas

“This agreement sets out a highly competitive commercial blueprint for Golden Pass Products, with a commitment that builds on the unique combined strengths of QPI and ExxonMobil throughout the global downstream LNG value chain,” said Bill Collins, president of Golden Pass Products.

Golden Pass Products said it would invest approximately $10 billion to build the liquefaction facility, which would create about 45,000 direct and indirect jobs across the United States during the construction phase.

Golden Pass Products has received U.S. Department of Energy (DOE) authorization for exports to Free-Trade Agreement (FTA) countries, and is awaiting DOE approval to export to non-FTA countries. In addition, Golden Pass Products is advancing preparations for the Federal Energy Regulatory Commission (FERC) permitting process and anticipates pre-filing soon.

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