Golden Pass Products Receives Approval from U.S. Department of Energy to Export Liquefied Natural Gas to Nations with Free Trade Agreements
October 02, 2012
October 2, 2012 – HOUSTON – Golden Pass Products, LLC has received authorization from the United States Department of Energy to export domestically produced natural gas as liquefied natural gas from the Golden Pass LNG terminal in Sabine Pass, Texas, to nations that have existing Free Trade Agreements (FTA) with the U.S.
The proposed project involves construction of natural gas liquefaction and export capabilities at the existing Golden Pass LNG facility. If developed, the project would represent approximately $10 billion of investment on the U.S. Gulf Coast, generating billions of dollars of economic growth at local, state and national levels and millions of dollars in taxes to local, state and federal governments. The project would generate approximately 9,000 construction jobs over five years with peak construction employment reaching about 3,000 jobs.
The proposed project would have the capacity to send out approximately 15.6 million tons of LNG per year. New infrastructure required to export will be located on the existing property, which contains two berths for LNG tankers, five storage tanks and access to the Golden Pass pipeline. The expanded facility would then have the capability and flexibility to both import and export natural gas.
As noted in the FTA application, Golden Pass also plans to submit an application to export LNG to non-FTA nations. A final investment decision will be made following government and regulatory approvals and will be based on a range of factors.
The proposed expansion of Golden Pass is an opportunity to capitalize on America’s abundant natural gas resources. The Energy Information Administration’s Annual Energy Outlook 2012 shows that the U.S. has substantial gas supplies that can support gas exports, including LNG exports, over the longer term.
About Golden Pass Products
Golden Pass Products LLC is affiliated with Golden Pass LNG Terminal LLC and Golden Pass Pipeline LLC, which since 2005 have constructed and operated the LNG import facility and distribution pipeline in Sabine Pass, Texas. Houston-headquartered Golden Pass Products LLC was formed by affiliates of Qatar Petroleum and Exxon Mobil Corporation. Golden Pass Products is an Equal Opportunity Employer. For more information, visit: www.goldenpassproducts.com.