October 26, 2012
October 26, 2012 – HOUSTON - Golden Pass Products, LLC (Golden Pass Products) has submitted an application to the United States Department of Energy (DOE) to export liquefied natural gas (LNG) from the receiving terminal owned by Golden Pass LNG Terminal LLC (Golden Pass Terminal) in Sabine Pass, Texas, to nations that do not have existing Free Trade Agreements with the U.S.
The proposed project involves construction of natural gas liquefaction and export capabilities at the existing Golden Pass Terminal facility. A final investment decision will be made following government and regulatory approvals, and will be based on a range of factors.
If developed, the project would represent approximately $10 billion of investment, which would generate many more billions of dollars of economic growth at local, state and national levels and millions of dollars in taxes to local, state and federal governments. According to a study conducted by The Perryman Group, the project would generate the equivalent of about 45,000 direct and indirect jobs across the U.S. during the five-year construction phase and 3,800 direct and indirect permanent jobs throughout the estimated 25-year life of the facility.
The proposed project would have an export capacity of approximately 15.6 million tons of LNG per year. The new facility would be built on existing Golden Pass Terminal property and utilize the existing state-of-the-art tanks, berths and pipeline infrastructure. The facility would then have the capability and flexibility to both import and export natural gas.
The proposed expansion of Golden Pass Terminal is an opportunity to capitalize on America’s abundant natural gas resources. The U.S. is estimated to have nearly 100 years of natural gas supply at current consumption rates. The substantial gas supply creates an opportunity for the U.S. to meet domestic demand and support LNG exports.
In September, Golden Pass Products received approval from the DOE to export LNG to countries with which the U.S. has existing Free Trade Agreements.
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.