Ocean LNG to lift and market Golden Pass volumes

Ocean LNG to lift and market Golden Pass volumesImage courtesy of Golden Pass LNG

Ocean LNG will be responsible for the offtake and marketing of all LNG volumes to be produced and exported from the Golden Pass LNG export project in Sabine Pass, Texas.

Ocean LNG is a joint venture marketing company, owned by Qatar Petroleum (70 percent) and ExxonMobil (30 percent).

Earlier this year, Ocean LNG entered into a binding LNG sales and purchase agreement with Golden Pass Products to purchase and offtake all the LNG volumes to be produced by Golden Pass LNG, Qatar Petroleum said in a statement on Monday.

Since its establishment, Ocean LNG has been active mainly in South America and Europe.

Following the final investment decision of Golden Pass LNG on February 5, 2019, Ocean LNG will now focus its efforts on marketing its US LNG volumes in the Asia Pacific region through further extensive engagements.

It will also expand its relations and networks with both established customers as well as emerging and prospective LNG buyers, while at the same time maintaining a strong footprint across South America and Europe.

Golden Pass LNG, which received all necessary regulatory approvals for the export of LNG from the U.S. Federal Energy Regulatory Commission and the U.S. Department of Energy, was sanctioned in early February of this year by Qatar Petroleum and ExxonMobil, and construction activities at its site are expected to commence imminently.

The project’s engineering, procurement and construction (EPC) contract was awarded to a consortium comprising Chiyoda, McDermott and Zachry and was executed at the FID ceremony, the statement reads.

Production from the facility is expected to start up in 2024.

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