Qatar Petroleum and ExxonMobil have signed a commercial framework agreement for the proposed liquefaction project at the world-class Golden Pass LNG terminal facility in Sabine Pass, Texas, the companies said on Friday.
The deal establishes a commercial framework to sell up to the full 15.6 million tpy output of the Golden Pass liquefaction project, and provide shipping and sales opportunities to existing and new markets, including leveraging the sponsors long-term arrangements for international imports via the UK's South Hook facility.
Golden Pass shareholders and their joint ventures are world leaders in the LNG business with operational LNG expertise, financial capabilities, access to shipping fleets, large-scale regasification facilities and a diverse global customer portfolio, according to project officials.
This agreement sets out a highly competitive commercial blueprint for Golden Pass Products, with a commitment that builds on the unique combined strengths of QP and ExxonMobil throughout the global downstream LNG value chain, said Bill Collins, president of Golden Pass Products.
Golden Pass Products would invest approximately $10 billion to build the liquefaction facility in Sabine Pass, Texas, and would create about 45,000 direct and indirect jobs across the US during the construction phase.
Golden Pass Products has received US Department of Energy (DOE) authorization for exports to free-trade agreement (FTA) countries, and is awaiting DOE approval to export to non-FTA countries.
In addition, Golden Pass Products is advancing preparations for the Federal Energy Regulatory Commission (FERC) permitting process and said it anticipates pre-filing soon.