OGF Article Qatar, Exxon Mobil Agree to Sanction Golden Pass Expansion


Co-owned by Qatar Petroleum, Exxon Mobil, and ConocoPhillips, the Golden Pass LNG Terminal handles up to 2 Bcf/D of natural gass imports. Qatar Petroleum and Exxon Mobil Corp. will soon announce plans to proceed with a $10-billion project to expand the Golden Pass LNG terminal in Texas, according to a Reuters report released 1 February. The report cited three people familiar with the transaction. ConocoPhillips, the third partner in the terminal, will sell its 12.4% stake in the project and has no plans to participate in the expansion. Exxon Mobil is the most likely buyer for that stake; sources told Reuters that the plans for the project are in advanced stages and the existing partners do not want to bring in another company.