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Total LNG exports to the United States totaled 14.3 million tonnes in 2017 and increased to 15 million tonnes in the first three quarters of 2018, according to Reuters. LNG trade reached almost 300 million tonnes in 2017 and is growing, particularly in Asia, where China is shifting from coal to cleaner burning natural gas to improve air quality.
The shipping channel that straddles the Texas-Louisiana border is already home to the Sabine Pbad LNG terminal, operated by Cheniere, the first mover of the new Gulf Coast export hub.
The public energy company Qatar Petroleum, Exxon's partner in the Golden Pbad project, holds a 70% stake in the development. Qatar, the world's largest LNG producer, recently left the oil producer group, OPEC, stating that it would focus on expanding its activity in natural gas.
Exxon holds the remaining 30% interest in the project, which is part of its plan to invest $ 50 billion in manufacturing facilities in the United States over the next five years, with a focus on the US coast. Gulf of Mexico. The company expects the terminal to support 200 permanent jobs and 9,000 jobs during construction.
"Golden Pbad will provide an increased, reliable and long-term supply of liquefied natural gas to global gas markets, stimulate local growth and generate thousands of jobs," said Darren Woods, President and Chief Executive Officer. Exxon, in a press release.
Exxon and Qatar Petroleum have already worked together in Argentina, Brazil and Mozambique.
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