Mubasher: Qatar Petroleum and Exxon Mobil Corp are expected to launch $10 billion project to expand a liquefied natural gas (LNG) export facility in Texas.
ConocoPhillips, a holder of a 12.4% stake in the facility, is planning to sell its stakes to both companies, informed sources told Reuters.
Qatar Petroleum holds a 70% stake in the US facility, while Exxon owns only 17.4% stake.
The Golden Pass LNG Terminal in Sabine Pass, Texas, has the capacity to handle up to 2 billion cubic feet of natural gas imports per day.
In 2017, Qatar was the world’s largest LNG producer, with an annual output of 77 million tonnes.
The demand for LNG is soaring globally, as fuel consumption is expected to reach 550 million tonnes a year by 2030.
