Affiliates of QatarEnergy and ExxonMobil have agreed to independently offtake and market their respective proportionate equity shares of LNG produced by the Golden Pass LNG Export Project located in Sabine Pass, Texas in the US.

Pursuant to the agreement, QatarEnergy Trading LLC, a wholly owned subsidiary of QatarEnergy, will offtake, transport and trade 70% of the LNG produced by Golden Pass LNG.

The construction of Golden Pass LNG, which has a total production capacity in excess of 18 million tonnes of LNG per annum, is well underway with its first LNG production expected by the end of 2024.

According to the Minister of State for Energy Affairs and QatarEnergy President and CEO HE Saad Sherida Al-Kaabi, the energy market is highly dynamic and undergoing a period of transformation. He said that LNG will continue to play a key role in meeting global energy demand and ensuring the security of supply.

This agreement is an important addition to our efforts to meet the demand for cleaner energy and to support the economic and environmental requirements for a practical, equitable and realistic energy transition.

HE Minister Al-Kaabi said he is proud of what QatarEnergy Trading has achieved in the short time since its inception and with this new addition to its portfolio, he said that they are confident that the affiliate will accelerate its efforts to deliver on the country’s aspiration of becoming a world leader in LNG trading in the near future.

As a result of this arrangement, Ocean LNG Limited, a joint venture established in 2016 between affiliates of QatarEnergy and ExxonMobil for the purpose of offtaking and marketing the entire production of Golden Pass LNG, has ceased operations and will be wound down.

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