04FEB2019 - NEWS - Qatar Petroleum and Exxon Mobil Corporation expected to proceed with a project to expand LNG export facility in Texas, US

Qatar Petroleum and Exxon Mobil Corporation are expected to announce plans next week to proceed with a $10 billion project that will expand a liquefied natural gas (LNG) export facility in Texas. ConocoPhillips, the third partner in the existing import terminal, plans to sell its 12.4 percent stake and does not plan to participate in the expansion. LNG demand is soaring. Worldwide consumption of the fuel is expected to more than double to 550 million tonnes a year (mtpa) by 2030, triggering a race among oil and gas companies eager to dominate the market. Golden Pass LNG began as a receiving and regasification facility in Sabine Pass, Texas able to handle up to 2 billion cubic feet of natural gas imports per day.

Published by Editor - www.Livebunkers.com at 04-Feb-2019 05:52:40 [UTC] , contact editor at editor@livebunkers.com