IRVING, Texas – ( BUSINESS WIRE ) – ExxonMobil
and partner Qatar Petroleum said today that they have made a final investment
decision to continue with the development of Golden
Pass the LNG export project located in Sabine Pass, Texas. Construction
will begin in the first quarter of 2019 and the plant is expected to
Start up in 2024.
"Golden Pass will provide an increased, reliable, long-term supply of
liquefied natural gas to global gas markets, stimulate local growth and
create thousands of jobs, "said Darren Woods, manager and manager
CEO of Exxon Mobil Corporation (NYSE: XOM). "The comprehensive one
experience from ExxonMobil and Qatar Petroleum provides the expertise,
resources and financial strength needed to construct and operate one
integrated floating and export facilities in the United States. "
The $ 10 + billion liquefaction project will have the capacity to produce
around 16 million tonnes of LNG per year. It is expected to re-create
9,000 jobs over five years of construction and more than 200
fixed positions during operation. Preliminary estimates of one
Independent study shows that the project could generate up to $ 31 billion
in US economic gains and more than $ 4.6 billion in direct federal
State and local tax revenues during the life of the project.
Golden Pass is part of ExxonMobil's plans to invest more than $ 50
billions over the next five years to build and expand production
amenities in the US This includes Growing
The Gulf Initiative which will create approximately 45,000 jobs in America.
Working interests in the Golden Pass The LNG export project is 70 percent
Qatar Petroleum and 30 percent ExxonMobil. This project is based on
successful international relationship between ExxonMobil and Qatar
Petroleum, with Qatar Petroleum which joined ExxonMobil in exploration and
development activities in Argentina, Brazil and Mozambique.
ExxonMobil, the largest international trade in oil and gas
The company uses technology and innovation to meet the world's growing
energy needs. ExxonMobil has an industry-leading inventory of
Resources, is one of the largest refineries and marketers of petroleum
products, and its chemical company is one of the largest in the world.
For more information, visit www.exxonmobil.com
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Warning statement : Future statements
Events or circumstances in this issue are forward-looking statements.
Actual future results, including project plans, timing, costs,
Capacities and financial consequences may differ materially due to changes
in market conditions that affect the oil and gas industry or long-term
price level for oil and gas; political and regulatory development
including changes in environmental law and regulations and collection
necessary permits and approvals the ability to implement operation and
management plans as intended including the timely execution of the construction
projects; actions of competitors; occurrence and duration of
economic setbacks; the outcome of commercial negotiations; and others
factors discussed in this issue and under the heading "Factors
Affects future results "on the Investors page of ExxonMobil's website