• Home
  • News
  • Qatar Petroleum and ExxonMobil take “Final Investment Decision” to build a mega LNG export project in the USA
  • 2019 February 7 11:18

    Qatar Petroleum and ExxonMobil take “Final Investment Decision” to build a mega LNG export project in the USA

    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%), Qatar Petroleum says in a press release.

    The decision to proceed with the $10+ billion investment was announced during a special ceremony held in Washington D.C. on Tuesday 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 35 billion dollars of economic benefits in the U.S. including federal, state and local tax revenues over the life of the project.

    Speaking at the ceremony, His Excellency Mr. Al-Kaabi thanked His Excellency Secretary Perry for being part of this important event, and said “your presence here today is a testament to the depth and strength of the strategic bilateral relations between the United States and the State of Qatar, and to the commitment of both sides for expanding and reinforcing bilateral cooperation in the field of energy.”

    His Excellency Mr. Al-Kaabi added “The Golden Pass LNG export project is not our first investment in the United States, and is certainly not going to be our last. It represents a significant part of the plans that Qatar Petroleum had announced to invest 20 billion dollars in the U.S. energy sector, which we believe would bring great benefits for both the United States and the State of Qatar.”

    Highlighting the significance of this event in the context of the U.S. LNG industry, His Excellency said “this investment of over 10 billion dollars is of a particular importance as one of the largest single investment decisions in U.S. LNG history.”

    In his remarks, H. E. Mr. Al-Kaabi said “I would like to take this opportunity to thank Mr. Darren Woods and the whole ExxonMobil organization for our successful long-term partnership. I would also like to thank the management and staff of Golden Pass LNG, Chiyoda, McDermott and Zachry for all their efforts to get us to this important milestone. We will all continue working together towards the successful execution of this project, which will benefit the U.S. economy and the neighboring local communities in the U.S. gulf coast. I would also like to thank the various state and federal agencies involved in the permitting and regulatory processes for their support.”

    H. E. Al-Kaabi added: “The development of the Golden Pass LNG export facility enhances the depth and flexibility of our global LNG supply portfolio, and reinforces the position of the U.S. as a key contributor to meeting the world’s growing demand for LNG.” 

    H. E. Mr. Al-Kaabi concluded by saying “I would like to express our sincere gratitude to His Highness Sheikh Tamim Bin Hamad Al-Thani, The Amir of the State of Qatar, for his guidance and unwavering support to Qatar Petroleum. I would also like to thank the executive management team and employees of Qatar Petroleum for their hard work and dedication.”

    On his part, His Excellency Mr. Rick Perry, the U.S. Secretary of Energy, said “Today’s agreement is the latest example of the vital partnership between the U.S. and Qatar - from American universities putting campuses in Qatar, to our strategic military relationship, and of course, our collaboration in the energy sector.” 

    “The Golden Pass project is proof that two of the world’s top energy producers can work together as allies to increase energy diversity, advance energy security, and support rather than subvert an open energy marketplace,” Secretary Perry added.

    The Chairman and CEO of ExxonMobil Corporation, Mr. Darren Woods said “Qatar Petroleum and ExxonMobil have for decades successfully demonstrated their capabilities of producing, shipping and marketing natural gas globally.” 

    “We look forward to bringing our shared expertise to bear at Golden Pass, which will help to provide low-cost, cleaner-burning natural gas to meet growing global energy demand and improve living standards,” added Mr. Woods.

    The project’s Engineering, Procurement and Construction (EPC) contract was awarded to a consortium comprising Chiyoda, McDermott and Zachry and was executed at the ceremony by senior executives representing the consortium together with Golden Pass LNG.




2022 January 20

18:35 EuroDry announces agreement to acquire a 2014-built Supramax bulker
18:05 Valaris announces floater contract awards
17:43 Alfa Laval experiences increased demand for solutions related to LPG as fuel
17:26 Throughput of Chinese sea and river ports in 2021 climbed by 6.8% YoY
17:15 The U.S. Army gets $22.81 billion in supplemental funding of studies, projects and programs
17:05 Sanmar Shipyards delivers fourth powerful compact tug to SAAM Towage
16:50 Cargo traffic on IWW of Russia in 2021 rose by 1.2% to 110.3 million tonnes
16:35 Uber Boat by Thames Clippers builds the UK’s first hybrid high speed passenger ferries
16:15 American Cruise Lines unveils Project Blue
16:05 TGE Marine announces the completion of the tank building phase for two large LNG cargo tanks
15:31 Hafnia plans to acquire 12 modern LR1 tankers
15:25 Holland Shipyards Group develops new tug EDDY 24-50 E
15:05 ZIM announces new chartering agreement for three 7,000 TEU LNG dual-fuel container vessels
14:40 Exports of LNG and gas condensate from port Sabetta exceeded 19 million tonnes in 2021
14:11 Stena Line and Associated British Ports sign £100M deal for new ferry terminal at the Port of Immingham
13:45 Federal authorities asked to step into situation with coal transportation by Russian Railways
13:19 MABUX: Bunker Weekly Outlook, Week 03, 2022
13:12 Norside buys the platform supply vessel 'Farland' for offshore wind
12:46 New ICS guide helps seafarers navigate the digital bridge
12:08 The Harbour Master’s Division of the Port of Rotterdam Authority makes it through the second corona year unscathed
11:51 Port of Long Beach sets annual record with 9.38 million TEUs
10:46 Global Ports' consolidated marine container throughput increased by 2.8% y-o-y in 2021
10:10 Increase of cargo predicted for the Port of Riga this year
09:33 MABUX: Global bunker prices may turn over downward correction in the end of the day
09:25 Crude oil market sees downward price correction
09:08 Baltic Dry Index as of January 19

2022 January 19

18:20 New SGMF publication provides expansive and highly relevant guidelines on safe bunkering of LNG
18:03 ESL Shipping sells the barge Espa
17:52 High efficiency Wärtsilä power solutions to drive seven new Arctic Shuttle Tankers
17:50 Euroseas announces new charter for its 2,788 TEU, 2004-built vessel
17:33 Freeport of Riga Authority to invest almost EUR 1 million in implementation of port digital technology and IT solution projects this year
17:15 ABS, SDTR and SDARI develop methanol-fueled bulker
16:54 Thistle Wind Partners land 2 GW in ScotWind offshore wind leasing round
16:26 Results of Russian ports in 2021: infographics and analytics
16:05 Port of Blyth orders Konecranes Gottwald Generation 6 Mobile Harbor Crane
15:40 Equinor awarded 26 new production licences on the Norwegian continental shelf
14:56 Oboronlogistics’ Sparta IV to deliver project cargo to India
14:29 Sea Port of Saint-Petersburg increased its throughput in 2021 by 17% YoY
14:08 Growing orders for Alfa Laval FCM LPG fuel supply systems reflect strength in Alfa Laval’s broad LPG offering
13:45 Throughput of Novotrans at Ust-Luga port’s ferry terminal rose by 9.2% in 2021
13:24 ABB adds digital analytics feature to turbochargers, giving performance visibility to shipowners
12:51 Port of Corpus Christi finishes Fiscal Year 2021 with record tonnage
12:50 FESCO delivers equipment for NPP Akkuyu in Turkey
12:27 Helsinki City Board approves the Port of Helsinki Ltd development programme
12:13 METIS adds new functionality to cloud-based platform to enhance decarbonisation and compliance support
11:41 North makes key Fixed Premium P&I appointments to accelerate diversification drive
11:35 Jumbo-SAL-Alliance delivers comprehensive transportation solution for the transportation of offshore platform modules
11:23 Throughput of Murmansk Sea Fish Port in 2021 rose by 20.7% YoY
11:01 Throughput of Rostov-on-Don port in 2021 fell by 15%, year-on-year
10:39 MABUX: Bunker price may continue upward changes on Jan 19
10:16 DNV: “No room for complacency” despite advancement in shipping safety
10:02 Norilsk Nickel to have icebreaker built by Helsinki Shipyard Oy
09:29 Baltic Dry Index as of January 18
09:13 Crude oil prices continue rising amid high demand

2022 January 18

18:45 X-Press Feeders launches Germany Sweden X-Press
18:04 Crown Estate Scotland announces the outcome of the first Scottish offshore wind leasing round in over a decade
17:52 Throughput of Russian seaports in 2021 climbed by 1.7% (detalization)
17:34 Fugro secures cable route survey contract for Denmark’s Energy Islands development supporting the transition to renewable energy
17:04 MPC Capital secures new building slots for 5,500 TEU container ships
16:54 Incat Tasmania awarded a contract to build a 76 metre high speed catamaran for South Korea