ExxonMobil and Qatar Petroleum will proceed with the development of the Golden Pass LNG export project in Sabine Pass, Texas.
The more than $10 billion liquefaction project will have capacity to produce around 16 million tonnes of LNG per year and will provide reliable LNG supply to global markets.
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 US.
Working interests in the Golden Pass LNG export project are 70% Qatar Petroleum and 30% ExxonMobil. The 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.
Darren Woods, chairman and CEO of Exxon Mobil Corporation, says: 'Golden Pass will provide an increased, reliable, long-term supply of LNG to global gas markets. '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 US.'
Construction will begin in the first quarter of 2019 and the facility is expected to start up in 2024.
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