US, Qatar to Outline Qatari Investment in the US
US and Qatar will make an announcement related to Qatari investment in the US February 5, US Department of Energy said February 4.
“Tomorrow, February 5, 2019, US secretary of energy Rick Perry will host a bilateral meeting with Qatar’s minister of state for energy affairs, president and CEO of Qatar Petroleum H.E. Saad Al-Kaabi in Washington, D.C.
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“Following the bilateral meeting, Perry will join minister Al-Kaabi and representatives from ExxonMobil and Golden Pass LNG regarding an announcement surrounding Qatari investment in the US,” the department said.
The Golden Pass LNG terminal near Sabine Pass, Texas, is a joint venture formed by affiliates of Qatar Petroleum (70%), ExxonMobil (17.6%) and ConocoPhillips (12.4%). The project has been cleared by the US government to export to non-Free Trade Agreement countries. Golden Pass is therefore authorised to export up to 2.21bn ft3/d (16.5mn metric tons/yr) of LNG.
In December, Al-Kaabi said in Doha that the final investment decision on the Golden Pass project “should be coming in the next few weeks to months." Although, the department did not comment on the LNG project, it is expected the announcement may contain plans to proceed with the project.
Golden Pass was originally built as a giant LNG import facility to channel Qatari imports into the US Gulf Coast, but is now to be entirely reinvented as a liquefaction and export venture.
Al-Kaabi also said in Doha that Qatar will be investing $20bn in the US energy space in the next five years.