LNG

Golden Pass LNG, the US export project being developed in Jefferson County in Texas, has received a seven-year extension from regulators to complete construction. 

Qatar Petroleum and ExxonMobil said their joint marketing company Ocean LNG, created in 2016, would be responsible for placing all of the offtake from the Golden Pass liquefaction and export plant being developed on the Gulf Coast of Texas.

Ocean LNG is an international joint venture marketing company started in October 2016 in which Qatar Petroleum owns 70 percent and ExxonMobil holds 30 percent.

“Ocean LNG will be prominently featured for the first time as part of the Qatar Petroleum pavilion at the global industry event, LNG 19, being held in Shanghai,” said Qatar Petroleum.

“Since its establishment, Ocean LNG has been active mainly in South America and Europe,” noted Qatar Petroleum.

“Following a successful Final Investment Decision of Golden Pass LNG on 5 February 2019, Ocean LNG will now focus its efforts on marketing its US LNG volumes in the Asia Pacific region through further extensive engagements,” explained the company.

The marketing unit would seek to expand its relations and networks with both established customers as well as emerging and prospective LNG buyers.

“The FID of Golden Pass LNG earlier this year underpins Ocean LNG's marketing efforts to deliver US LNG to customers across the globe,” said Saad Sherida Al-Kaabi, Qatar’s Minister of State for Energy Affairs, and President and Chief Executive of Qatar Petroleum.

“This is a further testament of Qatar Petroleum's position as a global LNG leader with a large portfolio capable of offering tailored LNG supply structures and commercial terms in an evolving global LNG environment,” stated Al-Kaabi.

The existing Golden Pass facility, located on the Sabine-Neches Waterway in Texas, is majority owned by Qatar and with ExxonMobil holding 30 percent of the venture.

Originally designed as an import facility before the shale-gas revolution, Golden Pass will be reconfigured at a cost of more than $10 billion to export up to 15.6 million tonnes per annum of LNG.

Golden Pass has already received all necessary regulatory approvals from both the US Federal Energy Regulatory Commission and the Department of Energy.

An engineering consortium comprising McDermott and Zachry Group of the US and Japan’s Chiyoda Corp. have been awarded the contract to build the plant.

Black and Veatch, the US liquefaction technology and energy project company based in Kansas, said it was selected as owner’s engineer by Centrais Eletricas de Sergipe for the 1,516-megawatt combined-cycle, gas-fired power project in northeast Brazil, which will receive LNG cargoes from Qatar Petroleum marketing company Ocean LNG.

Qatar’s liquefied natural gas marketing company will supply 1.3 million tonnes per annum of cargoes to the largest gas power plant in Latin America being built in Sergipe, the smallest state in Brazil, located in the northeast of the country.

Oct 31 (LNGJ) - Qatar Petroleum has set up a company called Ocean LNG Ltd to market its future international LNG supply portfolio sourced from outside the State of Qatar, where its affiliates Qatargas and RasGas produce a combined 77 million tonnes per annum. QP said its move was motivated by its desire to continue to be a global LNG leader and to invest in LNG projects outside Qatar. A branch office of Ocean LNG will be established in the Qatar Financial Centre in the Gulf state’s capital, Doha, to manage and undertake the new company’s activities. “QP aspires to be one of the leading energy companies in the world. and LNG forms one of the cornerstones of these aspirations.,” said Saad Sherida Al-Kaabi, President and Chief Executive of QP. “As such, it is crucial for us to establish a global LNG marketing arm that will be instrumental in monetizing opportunities that Qatar Petroleum will be pursuing and capturing outside Qatar.” Ocean LNG is a joint venture between majority stakeholder QP and Ras Laffan liquefaction plant partner ExxonMobil.