ExxonMobil, Qatar Petroleum To Proceed With Golden Pass LNG Export Project

ExxonMobil and partner Qatar Petroleum said they 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. Working interests in the Golden Pass LNG export project are 70% Qatar Petroleum and 30% ExxonMobil.

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The $10B+ liquefaction project will have the capacity to produce around 16 million tons of LNG per year, Exxon said. "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 $31B in U.S. economic gains and more than $4.6B in direct federal, state and local tax revenues over the life of the project", the company added. Darren Woods, chairman, and CEO of Exxon Mobil stated: "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".

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