Golden Pass Is Golden at Last
In a long-awaited development, Golden Pass Products (GPP) finally received a non-FTA export authorization from the Department of Energy (DOE) earlier this week (Apr. 25). This was a notable event for several reasons:
- This was the first non-FTA authorization issued by the Trump Administration.
- The time lag between final authorization by the Federal Energy Regulatory Commission (FERC) and the DOE non-FTA authorization has been reduced from five to seven months to just four months.
- But, what is truly stunning about this decision is that DOE’s authorization for GPP to export gas to free trade agreement nations was made on Sept. 27, 2012!
In making the decision, Sec. Perry said:
This announcement is another example of President Trump’s leadership in making the United States an energy dominant force. This is not only good for our economy and American jobs but also assists other countries with their energy security.”
GPP was original established to import LNG into the United States but two of the import terminal operators—Qatar Petroleum and ExxonMobil—developed plans more than five years ago to add export capabilities to the terminal. Assuming that the two JV partners in the project take a final investment decision (FID), GPP could export gas within four to five years after FID. The project—located on the Sabine-Neches Waterway on the Texas-side is slated to produce 15.6 million tons of LNG per year when complete.