ExxonMobil, Qatar Petroleum Greenlight $10B+ Expansion of Natural Gas Facility
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ExxonMobil and partner Qatar Petroleum have decided to expand the existing Golden Pass LNG (liquid natural gas) facility in Sabine Pass, TX. The venture will invest more than $10 billion in the liquefaction project, and when completed in 2024, it will have capacity to produce about 16 million tons of LNG.
A joint venture of Chiyoda International Corporation, McDermott International Inc., and Zachry Group will handle the engineering, procurement, and construction. Enable Midstream Partners received a 20-year transportation agreement.
Work on the Golden Pass LNG expansion will begin this quarter. The project is expected to create roughly 9,000 jobs over the five-year construction period, and more than 200 permanent jobs during operations.
“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 ExxonMobil’s CEO Darren Woods.
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.