Golden Pass Products LLC, has been authorized by the U.S. Department of Energy to export domestically produced liquefied natural gas to countries that do not have a free-trade agreement with the United States. The joint venture between Qatar Petroleum and ExxonMobil has been given the green light to export up to the equivalent of 2.21 billion cubic feet per day from the Golden Pass Terminal near Sabine Pass in Jefferson County, Texas.
In addition to Golden Pass, the Department of Energy has authorized a total of 19.2 billion cubic feet per day to be exported to non-free trade agreement countries from planned facilities in Texas, Louisiana, Georgia and Maryland. If these projects get off the ground, the United States would be positioned as a dominant LNG exporter in the world.
U.S. Secretary of Energy Rick Perry stated, “This announcement is another example of President Trump’s leadership in making the United States an energy dominant force. This is not only good for our economy and American jobs, but also assists other countries with their energy security.”
Golden Pass estimates the construction of its facility will provide 45,000 direct and indirect jobs over five years and the project will provide 3,800 direct and indirect permanent jobs over the next 25 years of operational activity. The cumulative impact of construction and 25 years of operation will provide $2.4 billion in federal tax revenue and $1.2 billion in state tax revenue.
The Energy Department conducted an extensive review of the Golden Pass application and found positive benefits to the U.S. economy in scenarios with liquefied natural gas exports up to 28 billion cubic feet per day. Federal law requires approval of natural gas exports to countries that have a free trade agreement. Countries that do not have a free trade agreement, the Natural Gas Act directs the Energy Department to grant export authorization unless the agency finds that the proposed exports are not consistent with the public interest.
TRAVELING THIS SUMMER?
OILMAN has compiled a list of oil and gas museums around the country that you don’t want to pass up.
Take time out to visit a few or ALL the museums this summer while on vacation or traveling on business.
The oil and gas museum list includes Museum Name, Address, Clickable Website and Phone Number.