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Caspian Energy Journal Caspian European Club
Wednesday, 06 February 2019 11:00

Golden Pass LNG terminal to be expanded

Golden Pass LNG terminal to be expanded

ExxonMobil and Qatar Petroleum have made a final investment decision to proceed with development of the Golden Pass LNG export project located in Sabine Pass, Texas, Caspian Energy News (www.caspianenergy.net) reports with reference to the press statement of ExxonMobil.

Construction will begin in the first quarter of 2019 and the facility is expected to start up in 2024.

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.

More details: https://www.ogj.com/articles/2019/02/qp-exxonmobil-to-proceed-with-golden-pass-lng-project.html

Person in charge of the newsline: Olga Nagiyeva 

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