QatarEnergy and ExxonMobil are to independently market LNG produced at their joint venture Golden Pass LNG Terminal in Sabine Pass, Texas.
The companies claimed that by leveraging their unique customer insights, they will better serve their downstream customers, while meeting increased global demand.
ExxonMobil will market 30% of Golden Pass LNG volumes, which is on track for a 2024 startup, while QatarEnergy Trading will market the remaining 70%
“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, ExxonMobil’s head of 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 granted exclusive rights to market the volumes.
Previously, ExxonMobil and QatarEnergy used the Ocean LNG joint venture to market the LNG.
ExxonMobil and QatarEnergy said that they had continued their investments in Golden Pass throughout the pandemic-related down cycle, keeping the expansion project on schedule.
ExxonMobil plans to almost double its LNG supply by 2030, as low-cost, capital-efficient projects like the Golden Pass expansion come online. The energy giant said that it’s progressing multiple projects aimed at bringing new LNG supply to world markets.
In addition, QatarEnergy has named ConocoPhillips as the third and final partner for Qatar’s North Field South (NFS) expansion, part of the world's largest LNG project.
ConocoPhillips will take a 6.25% interest in the project.
QatarEnergy had already granted Shell and TotalEnergies a partnership in NFS with each holding a 9.375% stake.
