QatarEnergy and ExxonMobil have agreed to independently market liquefied natural gas (LNG) produced at their joint venture Golden Pass LNG Terminal in Sabine Pass, Texas.
As explained, the companies will better serve their downstream customers while meeting increased global demand.
ExxonMobil affiliate ExxonMobil LNG Asia Pacific (EMLAP) has been provided with the exclusive rights to market 30% of Golden Pass LNG volumes. QatarEnergy Trading will market the remaining 70%.
Previously, ExxonMobil and QatarEnergy used the Ocean LNG joint venture to market Golden Pass volumes to customers.
The companies said they continued their investments in Golden Pass throughout the pandemic-related down cycle, keeping the expansion project on schedule.
The project will add new LNG capacity and is expected to create thousands of jobs and generate billions of dollars of economic growth for the region, with LNG production anticipated to startup in 2024.
Once completed, the terminal will have a production capacity of 18.1 mtpa of LNG.
“We are continuing to build on our decades-long relationship with QatarEnergy and collaborating on mutual growth opportunities that help deliver the lower-emissions energy our world needs” , said Peter Clarke , Head of ExxonMobil’s LNG business. “Independently marketing these Golden Pass volumes will generate increased value and flexibility across ExxonMobil’s growing global LNG portfolio . “
Earlier this year, US oil and gas company Chesapeake Energy entered into a term gas supply agreement (GSA) with Golden Pass LNG Terminal to deliver 300 million cubic feet per day of gas from Haynesville to the terminal.