Statements

Golden Pass LNG submits FERC Buy/Sell Waiver Request

Published June 17th, 2020

Golden Pass submitted a request to the Federal Energy Regulatory Commission for a waiver of the Commission’s Buy/Sell Prohibition and any other relevant capacity release regulations and policies to enable Golden Pass LNG to enter into (1) an agreement to purchase natural gas from one or more affiliated suppliers and (2) makes sales of that gas under a long-term contract for export as LNG at the Golden Pass LNG Export Terminal to Ocean LNG Limited (“Ocean LNG”), which is affiliated with Golden Pass LNG, for export in foreign commerce.

The Commission’s Buy/Sell Prohibition was established to allow competitive market forces to operate to create an efficient national market in natural gas. Golden Pass LNG’s purchase agreements with upstream suppliers are not part of larger proposed transactions that link the upstream suppliers, affiliated or otherwise, to downstream sales of LNG by Golden Pass LNG. Thus, Golden Pass LNG does not believe its purchase of natural gas from affiliated companies, and subsequent sale of that gas as LNG to Ocean LNG, constitutes an unlawful buy/sell transaction.

Golden Pass LNG requests a waiver, to the extent necessary, of the Buy/Sell Prohibition and any other capacity release regulations, policies and orders deemed relevant, to engage in such transactions.

Golden Pass LNG has already signed long-term and short-term natural gas supply agreements to support the LNG export facility that is currently under construction in Sabine Pass, Texas and scheduled to be operational in 2024. While the terms of the agreements are confidential due to commercial sensitivity, they represent the first steps in the development of a 2.6 bcf/d natural gas portfolio to supply the Golden Pass LNG export terminal.

The Golden Pass LNG commercial team is actively engaged in negotiating and securing long-term natural gas supply agreements for the LNG manufacturing and export facility. Golden Pass’ supply requirements create immense opportunity to enhance U.S. energy infrastructure and strengthen domestic gas production in the U.S.

What is the purpose of your regulatory filings requesting a waiver of the FERC’s Buy/Sell prohibition?
Golden Pass is actively engaged in negotiating and securing long-term natural gas supply agreements for its LNG manufacturing and export facility in Sabine Pass, Texas. Golden Pass is requesting the waiver to engage in negotiations for the future purchase of natural gas from upstream affiliates as part of its portfolio.

Does this mean you plan to purchase the rest of your supply from suppliers affiliated with your shareholders, ExxonMobil and Qatar Petroleum?
Not necessarily. Golden Pass will be buying gas from a wide-range of quality partners. This FERC waiver request would ensure Golden Pass can engage in negotiations with our upstream affiliates, thus maximizing our commercial optionality. But, that does not suggest we would purchase the rest of our gas supply from those affiliates.


Golden Pass LNG signs gas supply agreements

Published May 18th, 2020

Golden Pass LNG is pleased to confirm the signing of long-term and short-term natural gas supply agreements to support the LNG export facility that is currently under construction in Sabine Pass, Texas and scheduled to be operational in 2024. The long-term agreement with Williams Energy Resources, LLC was filed with the US Department of Energy in mid-May. While the terms of the agreements are confidential due to commercial sensitivity, they represent the first steps in the development of a 2.6 BCFD natural gas portfolio to supply the Golden Pass LNG export terminal. Once operational, the terminal will be one of the largest buyers of natural gas in the United States.

The Golden Pass LNG commercial team is actively engaged in negotiating and securing long-term natural gas supply agreements for the LNG manufacturing and export facility. Golden Pass’ supply requirements create immense opportunity to enhance U.S. energy infrastructure and strengthen domestic gas production in the U.S.

Golden Pass has also executed contracts for firm transportation service for about half of its needed supply and is evaluating additional supply pipeline opportunities in order to meet its full anticipated demand needs of up to 2.6 BCFD.

What are the terms of the long-term supply agreements?
Due to the commercial sensitivity of these agreements, the terms of the agreements are confidential.

Are you still buying gas? How much will you eventually buy?
These are the first steps in a marathon to complete agreements for 2.6 bcf/d of long-term natural gas supply to support our LNG export facility.

I understood that you were buying gas only from suppliers affiliated with your shareholders, ExxonMobil and Qatar Petroleum. Is that the case?
No, Golden Pass will be buying gas from a wide range of quality partners.

U.S. Department of Energy issues NFTA authorization for Golden Pass Products

Published April 25th, 2017

On April 25, 2017 the U.S. Department of Energy issued authorization to Golden Pass Products to export LNG to non-Free Trade Agreement (NFTA) nations. In combination with the previously issued Free Trade Agreement authorization, the NFTA authorization will enable Golden Pass Products to export LNG to the market worldwide.

This achievement reflects years of effort in advancing the proposed Golden Pass export project, setting the stage to help meet the world’s growing need for clean energy.

The project is now focusing on bringing together the remaining elements to position for the opportunity.

The NFTA authorization can be found on the DOE website using this link.

Golden Pass Products Issues Invitation to Tender

Published May 9th, 2016

In May 2016, Golden Pass Products issued invitations to prospective EPC contractors to tender bids for the proposed 15.6 MTA LNG liquefaction expansion project in Sabine Pass, Texas.

This is a significant milestone in the progression of the GPP project.

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