Qatar Petroleum International Ltd and Exxon Mobil Corp won approval by federal energy regulators to build a $10bn natural gas export plant in Texas.
The two energy giants were cleared to build and operate the Golden Pass liquefied natural gas export terminal in Sabine Pass, Texas, according to an order issued on Wednesday by the Federal Energy Regulatory Commission. The agency also authorised a pipeline project designed to bring in 2.5bn cubic feet per day of gas to the facility for export.
Clearance of the project marks the end of a nearly three-year application process and comes as LNG prices have slumped amid waning demand and an influx of supply from new export terminals across the globe.
A string of US production plants have been suspended or cancelled as foreign markets have soured. “We will authorise Golden Pass Products’ proposal” to construct and operate the project, the commission said in its ruling on Wednesday.
The Golden Pass project will consist of three liquefaction trains, or plants, with capacity to produce 15.6mn metric tonnes per year of the super-chilled fuel, the order showed.
The developers are awaiting approval from the Energy Department for a permit to export gas to nations that lack a free trade agreement with the US, according to the project website.
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