Mubasher: Qatar Petroleum (QP) and Exxon Mobil Corp announced reaching a final agreement to invest as much as $10 billion in the Golden Pass liquefied natural gas (LNG) plant in the US.
Construction works of the Texas LNG export project are expected to begin in the first quarter of 2019 with an estimated production capacity of about 16 million tonnes of LNG per year, according to QP’s statement.
QP and Exxon Mobil own stakes of 70% and 30% of the LNG plant, respectively, the statement added.
The LNG export project is projected to create about 45,000 direct and indirect jobs in the US during the five-year construction phase.
More than $35 billion of economic benefits are forecast to be generated by the LNG project in the US including federal, state and local tax revenues.
The Golden Pass LNG project is part of Qatar's $20 billion investments in the US oil and gas fields, the GCC nation's minister of state for energy affairs Saad Al-Kaabi previously announced.
