ZCZC
BCN-16
US-QATAR-GAS-EXPORTS-EXXONMOBIL
Qatar, Exxon Mobil to build $10 bn LNG plant in Texas
NEW YORK, Feb 6, 2019 (BSS/AFP) – Qatar Petroleum and Exxon Mobil
announced Tuesday a final decision to build a natural gas export facility in
Texas, giving the official green light to a long-discussed project.
The Golden Pass project in Sabine Pass, Texas, which will cost more than
$10 billion, is scheduled to begin construction in the first quarter of 2019,
with a start up date in 2024, the companies said.
The venture is the latest to underscore the shifting complexion of US
energy in the wake of a shale boom that has prompted companies to pivot from
building facilities to import liquefied natural gas (LNG) to exporting the
fuel.
Qatar Petroleum, which holds 70 percent of the project, plans $20 billion
in US energy sector investments. Qatar announced in December it was leaving
the Organization of the Petroleum Exporting Countries to focus on building
its international gas business.
The Golden Pass project “enhances the depth and flexibility of our global
LNG supply portfolio, and reinforces the position of the US as a key
contributor to meeting the world’s growing demand for LNG,” said Qatar
Petroleum Chief Executive Saad al-Kaabi, who also serves as Energy Minister
for the Middle Eastern country.
Kaabi participated in a ceremony with US Energy Secretary Rick Perry and
Darren Woods, chief executive of Exxon Mobil, which holds 30 percent of the
project.
The project is expected to create about 9,000 jobs during the construction
phase and 200 permanent jobs, Exxon Mobil said in a news release.
“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,” Woods said in a statement.
BSS/AFP/HR/1000