QatarEnergy Trading to offtake 70% of LNG from Golden Pass
QatarEnergy Trading, a wholly owned subsidiary of QatarEnergy, will offtake, transport, and trade 70% of the LNG produced by Golden Pass LNG, QatarEnergy said October 26.
This comes after QatarEnergy and ExxonMobil agreed to independently offtake and market their respective proportionate equity shares of LNG produced by the Golden Pass project.
As a result of this arrangement, Ocean LNG, a joint venture established in 2016 between affiliates of QatarEnergy and ExxonMobil for offtaking and marketing the entire production of Golden Pass LNG, has ceased operations, and will be wound down, QatarEnergy said.
The construction of Golden Pass LNG, which has a total production capacity in excess of 18mn metric tons/year, is well underway with the first LNG production expected by the end of 2024.