ExxonMobil and partner Qatar Petroleum have made a final investment decision to proceed with development of the Golden Pass LNG export project located in Sabine Pass, TX. Construction will begin in the first quarter of 2019 and the facility is expected to start up in 2024.
The $10+ billion liquefaction project will have capacity to produce around 16 million tons of LNG per year. Preliminary estimates by an independent study indicate the project could generate up to $31 billion in U.S. economic gains and more than $4.6 billion in direct federal, state and local tax revenues over the life of the project.
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 U.S. This includes the Growing the Gulf initiative.