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FINWIRES

Golden Pass LNG Set for 1st Export as Tanker Reportedly Arrives in Texas

-- An LNG tanker has arrived at the Golden Pass export facility in Texas to load the plant's inaugural cargo of superchilled natural gas, marking a key milestone after construction delays, news outlets reported on Monday.

The Al Qaiyyah LNG tanker, owned by QatarEnergy, reportedly docked at the terminal, according to ship-tracking data.

Golden Pass did not immediately respond to a request for comment from.

Golden Pass said on March 30 that it had produced its first liquefied natural gas. The first shipment is expected to be delivered to Italy, Reuters reported.

QatarEnergy holds a 70% stake in the project, while Exxon Mobil (XOM) holds the remaining 30%.

On Monday, the facility was processing about 400 million cubic feet of gas, roughly half the 800 MMcf/d of its first liquefaction train, according to data cited by media reports. Two additional trains remain under construction.

Train 1 has a capacity of 6 million metric tons per year. Based on ownership stakes, QatarEnergy is expected to receive just over 4 million tons annually, while Exxon Mobil will take just under 2 million tons.

A second LNG carrier, the HL Sea Eagle, chartered by Exxon Mobil, was in the Gulf of Mexico on Monday and appeared to be heading toward Golden Pass, indicating it could load a subsequent cargo.

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