Exxon LNG terminal gets two-year extension

golden_pass The Golden Pass liquefied natural gas terminal under construction on the Texas side of the Sabine River in Jan. 2008. Hurricane Ike damaged the facility, including collapsing some of the tanks seen here.(Steve Ueckert/Chronicle)

Exxon’s Golden Pass liquefied natural gas terminal just south of Port Arthur took a pretty big hit from Hurricane Ike last year, so big that federal officials are giving the company two more years to finish construction:
According to Platts:

Under the Wednesday ruling, the deadline for completing the work was extended to July 2012. Golden Pass asked the commission to push back the July 2010 deadline because the site suffered considerable damage from the September 2008 hurricane.
Although crews finished the pipeline [associated with shipping gas from ther terminal] without significant delay in May, work on the terminal won’t be completed on schedule, FERC said.
Despite the extension request, ExxonMobil said in October that it expects Golden Pass to become operational by the middle of next year.
The terminal will have a capacity of 2 Bcf/d. Qatar Petroleum owns a 70% share, with the rest split between ExxonMobil and ConocoPhillips in an undisclosed proportion.

The terminal is right up the river from Cheniere’s Sabine Pass terminal, which took its first shipment in 2008 and was granted the right to re-export LNG this year — a sign of just how tough the LNG market is these days.

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