USA — The Golden Pass LNG Terminal, a joint venture between QatarEnergy and Exxon Mobil valued at $11 billion, is experiencing a significant delay in its startup due to construction turmoil.
This development is expected to impact both global and North American gas markets during a period of intense growth.
The project, located at the Sabine Pass site in Texas, was initially planned to begin operations this year.
However, it has now been postponed by at least six months, with the first exports from Train 1 rescheduled from June 2025 to December 2025.
Trains 2 and 3 are also delayed, with new start dates set for June 2026 and December 2026, respectively.
This delay will remove 2.3 million metric tonnes per annum (mmtpa) of growth from the 2025 supply forecast and 5.2 mmtpa from 2026, equivalent to approximately 320 million cubic feet per day (mmcfd) and 725 mmcfd of feedgas, respectively.
The delay was exacerbated by the bankruptcy filing of lead contractor Zachry Holdings, which has since exited the project.
The plant was reported to be 75 per cent complete, and Exxon Mobil has indicated that an updated completion schedule will be disclosed in the future.
Analysts from Wood Mackenzie warn that a full year’s delay remains a risk, potentially resulting in a decrease of 10 mmtpa in the global LNG supply forecast for 2026 and a reduction of 5 mmtpa for 2027.
This deferment could temporarily affect global LNG prices and U.S. natural gas production and prices. The situation also underscores potential challenges for other U.S. LNG projects, as construction risks persist.
The Golden Pass LNG project, which aims to significantly expand U.S. LNG exports, is now under scrutiny as stakeholders await updates on the revised timeline and potential new contractors to complete the project.
