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LNG World Shipping

Ocean LNG to market all LNG exported from new US terminal

Mon 01 Apr 2019 by John Snyder

Ocean LNG to market all LNG exported from new US terminal
Golden Pass LNG will open in 2024 with capacity to produce 16 mta of LNG

Ocean LNG Limited will offtake and market all LNG volumes produced and exported from the Golden Pass LNG export terminal in Sabine Pass, Texas, according to Qatar Petroleum (QP).

Golden Pass LNG, which received all necessary regulatory approvals to export LNG from the US Federal Energy Regulatory Commission and the US Department of Energy, was sanctioned in early February this year by its shareholders, and construction is expected to commence shortly. The US$10Bn facility will have capacity to produce 16 mta of LNG when operations begin in 2024.​

Ocean LNG is an international joint venture marketing company, owned by affiliates of Qatar Petroleum (70%) and ExxonMobil (30%). Earlier this year, Ocean LNG entered into a binding LNG sales and purchase agreement with Golden Pass Products to purchase and offtake the LNG produced by Golden Pass LNG.

Qatar Minister of State for Energy Affairs, and QP president and chief executive Saad Sherida Al-Kaabi, said the agreement “is a further testament of Qatar Petroleum’s position as a global LNG leader with a large portfolio capable of offering tailored LNG supply structures and commercial terms in an evolving global LNG environment.”

Ocean LNG will focus its efforts on marketing its US LNG volumes in the Asia Pacific region. It will also expand its relations and networks with both established customers, emerging and prospective LNG buyers, while maintaining a strong footprint across South America and Europe.

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