October 28, 2022
IRVING, TX – QatarEnergy and ExxonMobil have agreed to independently market LNG produced at their joint venture Golden Pass LNG Terminal in Sabine Pass, Texas. By leveraging their unique customer insights, QatarEnergy and ExxonMobil will better serve their downstream customers while meeting increased global demand.
- ExxonMobil will market 30% of Golden Pass LNG volumes
- Independent marketing will better serve downstream LNG buyers
- New Golden Pass LNG export facility on track for 2024 startup
“We are continuing to build on our decades-long relationship with QatarEnergy and collaborating on mutual growth opportunities that help deliver the lower-emissions energy our world needs,” said Peter Clarke, head of ExxonMobil’s LNG business. “Independently marketing these Golden Pass volumes will generate increased value and flexibility across ExxonMobil’s growing global LNG portfolio.”
ExxonMobil affiliate ExxonMobil LNG Asia Pacific (EMLAP) has been provided the exclusive rights to market 30% of Golden Pass LNG volumes. QatarEnergy Trading will market the remaining 70%. Previously, ExxonMobil and QatarEnergy used the Ocean LNG joint venture to market Golden Pass volumes to customers.
ExxonMobil and QatarEnergy continued their investments in Golden Pass throughout the pandemic-related down cycle, keeping the expansion project on schedule. The project will add new LNG capacity, create thousands of jobs and generate billions of dollars of economic growth for the region, with LNG production anticipated to startup in 2024.
ExxonMobil plans for lower-emissions LNG to play an increasingly important role in its advantaged portfolio. The company plans to nearly double its LNG supply by 2030 as low-cost, capital-efficient projects like the Golden Pass expansion come online. ExxonMobil is also progressing multiple projects aimed at bringing new LNG supply to world markets.
ExxonMobil, one of the largest publicly traded international energy and petrochemical companies, creates solutions that improve quality of life and meet society’s evolving needs.
The corporation’s primary businesses - Upstream, Product Solutions and Low Carbon Solutions - provide products that enable modern life, including energy, chemicals, lubricants, and lower-emissions technologies. ExxonMobil holds an industry-leading portfolio of resources, and is one of the largest integrated fuels, lubricants and chemical companies in the world. To learn more, visit exxonmobil.com and the Energy Factor.
The term “project” can refer to a variety of different activities and does not necessarily have the same meaning as in any government payment transparency reports.
Exxon Mobil Corporation has many affiliates. For simplicity in this release, terms like “ExxonMobil,” “corporation,” “our,” and “we” are sometimes used as abbreviated references to specific affiliates or affiliate groups. Nothing contained herein is meant to override the corporate separateness of affiliated entities, and all ExxonMobil entities affirmatively strive to respect corporate separateness.
Public Company Information: NYSE: XOM
Contact: Media Line (972) 940-6007