Exxon-Qatar venture seeks permit for Texas LNG export plant

|About: Exxon Mobil Corporation (XOM)|By:, SA News Editor

An Exxon Mobil (XOM) venture with Qatar Petroleum has asked the FERC for permission to build and operate a liquefied natural gas export plant at the site of its existing import terminal at Sabine Pass near the Texas-Louisiana border.

The $10B project is one of the main beneficiaries of the Energy's Department's plan to change the way it vets such export applications by prioritizing reviews on the most commercially mature projects; under a first-come-first-served review plan the DoE wants to replace, the project would have been ninth in line for review, putting decisive action perhaps two years away.

Even so, the expensive FERC application process now is still expected to take ~18 months.