Exxon Mobil Corporation (XOM)

[eFinanceMarkets]

Exxon-Conoco JV Golden Pass LNG approved for natural gas export

The Golden Pass LNG terminal on the Texas Gulf Coast was cleared yesterday by the Department of Energy to begin exporting up to 2.2B cf/day of natural gas.

Energy Secretary Rick Perry says the project will create ~45K jobs during construction and position the U.S. as the world's “dominant exporter” of LNG.

The approval adds to a growing list of LNG export terminals under development in the U.S.: Cheniere Energy began exporting last year from its Sabine Pass terminal in Louisiana, and there are seven facilities under construction with another four that have been approved but not yet begun construction, according to the FERC.

Golden Pass is a joint venture between Qatar Petroleum, Exxon Mobil (NYSE:XOM) and ConocoPhillips (NYSE:COP).