Exxon Mobil JV Golden Pass LNG Seeks US Approval for October 1 Re-Export as Plant Nears Production

Exxon Mobil Corporation (NYSE:XOM) is one of the most undervalued NYSE stocks to buy now. Recently, Golden Pass LNG, which is a joint venture between Exxon Mobil and QatarEnergy, has formally requested permission from US regulators to re-export liquefied natural gas/LNG starting October 1 this year.

This request comes as the export plant in Sabine Pass, Texas, nears the completion of its construction and prepares to begin production following previous delays. The company’s immediate need for re-export authorization pertains to a cargo of LNG it intends to import for the crucial cool-down process of the plant. This cooling down is typically the final step before an LNG facility commences full production.

Exxon Mobil JV Golden Pass LNG Seeks US Approval for October 1 Re-Export as Plant Nears Production

Aerial view of a major oil rig in the middle of the sea, pumping crude oil.

Golden Pass LNG is developing an 18 million metric tons per annum/mtpa LNG export facility and anticipates beginning LNG exports later this year. Once it commences shipping, Golden Pass is expected to become the 9th US LNG exporter.

Exxon Mobil Corporation (NYSE:XOM) explores and produces crude oil & natural gas in the US.

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Disclosure: None. This article is originally published at Insider Monkey.