ExxonMobil, Qatar Petroleum to Proceed with Golden Pass LNG Export Project
05 Febrero 2019 - 11:15AM
Business Wire
- $10+ billion investment will create
thousands of jobs, provide reliable LNG supply to global
markets
- Project to have a capacity of around 16
million tons per year of liquefied natural gas (LNG)
- Exports expected to commence in
2024
ExxonMobil and partner Qatar Petroleum said today 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.
“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,” said Darren Woods,
chairman and chief executive officer of Exxon Mobil Corporation
(NYSE:XOM). “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.”
The $10+ billion liquefaction project will have capacity to
produce around 16 million tons of LNG per year. 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 $31 billion in U.S. economic gains and more than
$4.6 billion in direct federal, state and local tax revenues over
the life of the project.
Golden Pass is part of ExxonMobil’s plans to invest more than
$50 billion over the next five years to build and expand
manufacturing facilities in the U.S. This includes the Growing the
Gulf initiative, which will create about 45,000 jobs in
America.
Working interests in the Golden Pass LNG export project are 70
percent Qatar Petroleum and 30 percent ExxonMobil. This project
builds upon the successful international relationship between
ExxonMobil and Qatar Petroleum, with Qatar Petroleum joining
ExxonMobil in exploration and development activities in Argentina,
Brazil and Mozambique.
About ExxonMobil
ExxonMobil, the largest publicly traded international oil and
gas company, uses technology and innovation to help meet the
world’s growing energy needs. ExxonMobil holds an industry-leading
inventory of resources, is one of the largest refiners and
marketers of petroleum products, and its chemical company is one of
the largest in the world. For more information, visit
www.exxonmobil.com or follow us on Twitter
www.twitter.com/exxonmobil.
Cautionary Statement: Statements of
future events or conditions in this release are forward-looking
statements. Actual future results, including project plans, timing,
costs, capacities and economic impacts could differ materially due
to changes in market conditions affecting the oil and gas
industries or long-term price levels for oil and gas; political and
regulatory developments including changes in environmental laws and
regulations and obtaining necessary permits and approvals; the
ability to implement operating and management plans as intended
including timely completion of construction projects; the actions
of competitors; the occurrence and duration of economic recessions;
the outcome of commercial negotiations; and other factors discussed
in this release and under the heading “Factors Affecting Future
Results” on the Investors page of ExxonMobil’s website at
www.exxonmobil.com.
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