Skip to main content

Qatar Petroleum and ExxonMobil to proceed with LNG expansion project in Texas

Published by
LNG Industry,


According to Reuters, Exxon Mobil Corp. and Qatar Petroleum are expected to announce plans this week to proceed with the development of a US$10 billion expansion project at an LNG facility in Texas, US.

The three sources that revealed this information also reportedly said that ConocoPhillips (the third partner in the terminal) is planning to sell its stake (12.4%) and is not planning to take part in the expansion project.

According to Reuters, the potential expansion project was first announced in 2014. Reuters also reports that the project is part of Qatar Petroleum’s plans to invest approximately US$20 billion in the US, as the company looks to grow its oil and gas footprint overseas.

Two of the sources reportedly said that ExxonMobil is the most probably buyer of ConocoPhillips’ stake. According to Reuters, the sources added that the existing partners do not wish to bring another participant into the mix, as project plans are already in the advanced stages.

Read the article online at: https://www.lngindustry.com/liquefaction/04022019/qatar-petroleum-and-exxonmobil-to-proceed-with-lng-expansion-project-in-texas/

You might also like

Kabel Schlepp

WEBINAR - Key criteria to ensure proper selection of a cable drag chain

In this webinar KabelSchlepp will review and discuss the items needed to ensure that a cable track is properly selected and sized for the user’s application. How diameters and weights of the fill package effect cable track selection and how the jacket material of the fill package influences the cable track design. Register for free today »

 

PTT buys year’s supply of LNG

Thailand’s PTT has purchased 10 LNG cargoes for delivery over the course of a year, starting in March 2020.

 
 

Embed article link: (copy the HTML code below):


 

LNG Industry is not responsible for the content of external internet sites.