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(Bloomberg) — The joint venture between QatarEnergy and Exxon Mobil Corp. has started liquefied natural gas production from the first of its three trains at a facility in Texas, marking a major milestone for US exports of the fuel as global supplies dwindle.
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The move sets the stage for Golden Pass LNG to deliver its first cargo from its facilities located in Sabine Pass, Texas, QatarEnergy said in a statement Monday. Global exports from the 18 million tons per annum project are now expected to start in the second quarter of this year.
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Golden Pass, a terminal near the Texas-Louisiana border, is poised to be a critical source of supply after Iran strikes damaged Qatar’s giant Ras Laffan facility on the Persian Gulf. Traders had been closely following the project as it is one of a few gas export facilities on the US Gulf Coast that are close to being completed.
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About 20% of the world’s supply of LNG is sidelined as Iran all but blocks the Strait of Hormuz, paralyzing the flow of commodities from the region. Most of that LNG went to Asia, where prices for the fuel have surged about 90% since the start of the war.
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Exxon said in a statement Monday that exports from Golden Pass are likely to begin in the second quarter of this year. Final investment decision for the project — a 70%-30% partnership between QatarEnergy and Exxon — was announced in 2019.
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“Golden Pass LNG will strengthen US energy production and reinforce the nation’s role as a reliable supplier to global markets, enhancing energy security and helping meet worldwide demand,” Exxon said in the statement.
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The US is already the world’s largest LNG exporter, producing more than 116 million metric tons a year in 2025, according to data compiled by Bloomberg.
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—With assistance from Kevin Crowley.
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(Adds context starting in the fourth paragraph, Exxon statement in fifth)
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English (US)