Articles tagged Golden Pass LNG

Integrated energy major ExxonMobil is seeing bottom-line gains by simplifying and standardizing operations, a strategy that should continue to benefit the global natural gas and oil operations, CEO Darren Woods said Friday.

Natural gas futures closed near flat after gyrating on both sides of even Friday as a foot race between hot summer demand and rising production continued to play out in setting market balances.

The natural gas export project underway on the upper Texas coast by Golden Pass LNG Terminal LLC will be delayed until the second half of 2025, ExxonMobil CEO Darren Woods confirmed Friday.

August natural gas futures were trading lower through midday Friday as competing fundamentals and the contract’s Monday expiry juiced volatility.

NO. 1: Golden Pass LNG Terminal LLC is looking to ramp up construction at the 18 million metric tons/year (mmty) capacity project after a bankruptcy court approved a deal between the project partners and Zachry Holdings Inc.

Golden Pass LNG Terminal LLC and its primary contractors, including Zachry Industrial Inc., have agreed to a settlement that could jumpstart construction again at the Texas LNG facility.

FERC has been ordered by a federal appeals court to review its analysis of the environmental impact of Commonwealth LNG, creating another potential delay for the Louisiana export project.

NO. 1: Chiyoda Corp. has asked a federal bankruptcy court to restart construction on the Golden Pass LNG export project in Texas, which has come to a near standstill since lead contractor Zachry Holdings Inc. filed for bankruptcy last month.

An increasing number of construction-related issues at major LNG projects this year has kept a demand-hungry natural gas market wary of delays, but analysts say price and production forecasts remain mostly intact – so far.

Golden Pass LNG Terminal LLC told the bankruptcy court handling Zachry Industrial Inc.’s restructuring that construction at its Texas export project could be at risk of “a near complete shut down” unless the firm is swiftly removed.