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Golden Pass terminal submits export plans

LNG Industry,

Golden Pass Products LLC, a company jointly owned by Qatar Petroleum International and ExxonMobil affiliates, is planning to export LNG from the Golden Pass terminal at Sabine Pass in Texas. The company plans to invest US$ 10 billion in converting the terminal into an export facility with a liquefaction capacity of 15.6million tpy. The company is seeking permission to export LNG to countries which the US has a free trade agreement with.

The export terminal is unlikely to be operational for some years as once it has export approval form the DOE they will still have to get further regulatory approval and build the liquefaction facilities.

One of Golden Pass’s competitors, Cheniere Energy, has already acquired export permission and there is a growing trend to convert redundant importation terminals to export use. Many import terminals were only being finished when the energy scenery dramatically changed in the US with the discovery of vast shale reserves.

However, the glut of gas in North America has pushed prices so low that many reserves may not be economical to exploit in the long term. By building export terminals for domestically produced natural gas, the US can tap into the huge global market for LNG and bring down its trade deficit as well as creating jobs during the contruction phases.

Adapted from press release by Peter Farrell.

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