Qatar Petroleum and ExxonMobil have taken the final investment decision for developing the Golden Pass LNG export project, which is located in Sabine Pass, Texas, and is owned by Golden Pass Products LLC – a joint venture between affiliates of Qatar Petroleum (70%) and ExxonMobil (30%).
The decision to proceed with the USD 10+ billion investment was announced during a special ceremony held in Washington D.C. under the patronage of His Excellency Mr. Saad Sherida Al-Kaabi, the Minister of State for Energy Affairs, President and CEO of Qatar Petroleum, and His Excellency Mr. Rick Perry, the U.S. Secretary of Energy.
The ceremony was also attended by the Chairman and CEO of Exxon Mobil Corporation, Mr. Darren Woods and other senior executives from Qatar Petroleum, ExxonMobil and Golden Pass LNG.
The final investment decision will pave the way for the construction of the Golden Pass LNG export facility, which will have a production capacity of about 16 million tons of LNG per year. Project execution activities will commence in the near future, and are expected to create in excess of 45,000 direct and indirect full-time jobs in the U.S. during the construction period, which is expected to take about 5 years. It is estimated that the project will generate more than USD 35bn of economic benefits in the U.S. including federal, state and local tax revenues over the life of the project.
