Exxon CEO: First LNG expected at Golden Pass in March

Exxon Mobil's CEO Darren Woods announced on Friday that production?of liquefied gas will begin at the Golden Pass export terminal in Texas in March. This marks a significant milestone for the project.

The?project, a joint venture between QatarEnergy and the U.S. government, will be the newest LNG?plant in the U.S. After construction began in 2019, the $10 billion project has suffered from delays and cost increases. The project had to switch its lead contractor when it filed for bankruptcy, claiming overruns in cost.

Woods stated during Exxon’s fourth-quarter earnings conference call with analysts that the venture had done "a really good recovery from bankruptcy." "I expect to see the first LNG produced in very early March." In December, a cool-down shipment arrived at Golden Pass. This was a significant step towards first LNG production. Reporting by Arunima?Kumar in Bengaluru, Sheila Dang from Houston and Nathan Crooks and Elaine Hardcastle.

(source: Reuters)