Exxon, Qatar to start construction on Texas Golden Pass LNG export plant

Chiyoda

09/05/2019 16:26

May 9 (Reuters) - Exxon Mobil Corp  XOM.N  and Qatar
Petroleum  QATPE.UL  told the U.S. Federal Energy Regulatory
Commission (FERC) on Thursday they would start construction of
the $10 billion-plus Golden Pass liquefied natural gas (LNG)
export terminal in Texas on May 13:
    
    * Exxon and Qatar Petroleum made a final investment decision
to build the project in February and expect the project to enter
service in 2024.
    * Golden Pass is designed to produce around 16 million
tonnes per annum (MTPA) of LNG, equivalent to about 2.1 billion
cubic feet per day (bcfd) of natural gas.
    * One billion cubic feet is enough gas for about 5 million
U.S. homes for a day.
    * Qatar Petroleum owns 70 percent of the project, while
Exxon owns 30 percent.
    * Enable Midstream Partners LP  ENBL.N  has said it expects
to complete the Gulf Run pipeline to transport gas to Golden
Pass in late 2022.
    * Golden Pass selected McDermott International Inc  MDR.N ,
Chiyoda Corp  6366.T  and Zachry Group to build the project.
    * After exporting no LNG at the start of 2016, the United
States is expected to become the third biggest LNG exporter in
the world in 2019 behind Australia and Qatar.
    * The U.S. Energy Information Administration (EIA) projected
U.S. LNG exports will rise to an average of 5.3 bcfd in 2019 and
7.4 bcfd in 2020 from 3.0 bcfd in 2018. LNG exports in 2018 were
worth about $3.5 billion.
    * Looking at just the terminals under construction, total
U.S. LNG export capacity is expected to increase to 7.4 bcfd by
the end of 2019 and 10 bcfd by the end of 2020, up from 5.2 bcfd
now.

    <^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^
FACTBOX-North American liquefied natural gas export projects   
 urn:newsml:reuters.com:*:nL1N22F0I9
GRAPHIC-Expansion of global LNG gasification and regasification
capacity    http://tmsnrt.rs/2mtY5CY
GRAPHIC-Growing global natural gas demand    http://tmsnrt.rs/2mtP90z
    ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^>
 (Reporting by Scott DiSavino; editing by Jonathan Oatis)
 ((scott.disavino@thomsonreuters.com; +1 646 223-6072; Reuters
Messaging: scott.disavino.thomsonreuters.com@reuters.net))