Aug 17 Golden Pass Products LLC, a joint venture of Exxon Mobil Corp and Qatar Petroleum, is seeking U.S. authorities' permission to export liquefied natural gas from a terminal near the Texas-Louisiana border, the Wall Street Journal said, quoting an executive.
Exxon and its partner would spend $10 billion to convert a new terminal near Port Arthur, Texas, into a facility capable of exporting 15.6 million tons of LNG per year, the newspaper said. It was built to import natural gas, it said.
According to the joint venture application, the LNG would be exported to countries with which the United States has a free-trade treaty, the Journal said.
The regulatory approval could take several years to pass and the facilities could take about five years to build, the Journal said, quoting Bill Davis, project executive for Golden Pass Products.
Exxon and Qatar Petroleum were not available for comment outside regular business hours.
Trending On Reuters
India has waived retrospective imposition of a minimum alternative tax (MAT) affecting foreign funds, the Finance Minister said on Tuesday, a move that could resolve a dispute that had shaken investor confidence. Full Article