Energy giants QatarEnergy and ExxonMobil have released a construction update for their Golden Pass LNG export terminal project on the US Gulf Coast, near Sabine Pass, Texas.
A joint venture of Chiyoda, McDermott, and Zachry won the contract to build the tree Golden Pass trains worth more than $10 billion next to the existing LNG import terminal. However, US construction company Zachry Holdings said on May 21 it has filed for bankruptcy, initiating a structured exit from the Golden Pass LNG export project due to ‘financial challenges’ related to the construction of the facility.
Golden Pass LNG released a statement saying: ‘Work continues on the project with McDermott and Chiyoda, the other two parties to the EPC contract. The project is already 75% progressed and we are committed to completing the project.’
State-owned QatarEnergy owns a 70% stake in the three-train Golden Pass project with a capacity of more than 18 million tonnes per annum and will offtake 70% of the capacity, while US energy company ExxonMobil has a 30% share.
