ZACKSยท2025-07-03 14:01Group 1: Joint Venture and Regulatory Approval - Exxon Mobil Corporation's joint venture with QatarEnergy, Golden Pass LNG, has requested U.S. regulatory approval to re-export liquefied natural gas (LNG) starting October 1, 2025, marking a critical step toward launching commercial operations at the long-delayed export facility in Sabine Pass, TX [1][9] - The request involves re-exporting a cargo of LNG that the company plans to first import to cool down the liquefaction trains, which is a standard and essential final phase before full-scale LNG production begins [2] Group 2: Project Status and Challenges - Golden Pass is constructing an LNG export terminal with a planned capacity of 18 million metric tons per annum, but the project has faced significant delays and cost overruns, with lead contractor Zachry Holdings filing for bankruptcy in March 2024 due to project cost overruns of at least $2.4 billion [3] - Following Zachry Holdings' exit, McDermott International has taken over as the new lead contractor for Train 1 and is in talks to assume construction responsibilities for the remaining two trains [4] Group 3: Market Position and Future Prospects - Once operational, Golden Pass will become the ninth U.S.-based LNG export terminal, further bolstering the United States' position as the world's leading LNG exporter, with first LNG shipments expected later this year, assuming regulatory approvals and construction timelines remain on track [5][9]