Mainly, the final investment decision will lead the way for the construction of Golden Pass LNG export facility. The latter will have a production capacity of about 16 million tons of LNG annually.
Execution activities are expected to follow and they will create 45,000 direct and indirect full-time jobs in the U.S. during the construction period, which is expected to take about 5 years.
Allegedly, the project will generate up to 35 billion dollars of economic advantages in the U.S. including federal, state and local tax revenues over the life of the project.
His Excellency Mr. Al-Kaabi stated that this investment of over 10 billion dollars is of a particular importance as one of the largest single investment decisions in U.S. LNG history.
The decision to proceed with more than $10 billion investment was announced during a special ceremony held in Washington D.C. on February 5, under the patronage of His Excellency Mr. Saad Sherida Al-Kaabi, the Minister of State for Energy Affairs, President and CEO of Qatar Petroleum, and His Excellency Mr. Rick Perry, the U.S. Secretary of Energy.
Concluding, the Chairman and CEO of Exxon Mobil Corporation, Mr. Darren Woods also attended the ceremony, as well as other senior executives from Qatar Petroleum, ExxonMobil and Golden Pass LNG.