Qatar Seizes Golden Opportunity For US Cooperation

Qatar’s greenlighting of the Golden Pass LNG export terminal sets it up to capitalize on surging shale-fueled US gas output.

Qatar Petroleum and ExxonMobil on 5 February took the long-awaited final investment decision (FID) on Texas’ Golden Pass LNG export project. Initially constructed as an LNG import terminal, the US shale revolution forced a rethink and now the partners (QP 70%op, ExxonMobil 30%) are set to deliver 16mn t/y of US LNG to international markets from 2024.

A ceremony was held in Washington DC to mark FID on the $10bn project and was attended by US Secretary of Energy Rick Perry, Qatar Oil Minister and QP CEO Saad al-Kaabi and ExxonMobil CEO Darren Woods. QP will invest in excess of $8bn, with ExxonMobil adding a further $2bn. (CONTINUED - 1115 WORDS)