Golden Pass LNG Terminal

What Golden Pass LNG Terminal does

Golden Pass LNG Terminal is a privately held joint venture between QatarEnergy (70%) and ExxonMobil (30%) that operates an LNG export facility in Sabine Pass, Texas. The corporate function is to procure U.S. natural gas, liquefy it, and sell LNG to global buyers primarily under long-dated supply purchase agreements (SPAs), with the terminal designed for an aggregate nameplate capacity of approximately 18.1 million metric tons per year. Customers include utilities, gas marketers, and energy companies in Europe and Asia seeking U.S. LNG to displace pipeline gas, diversify supply away from disrupted Middle Eastern sources, and meet rising demand from power generation and data centers.

The core technology comprises three liquefaction trains (each producing approximately 5.2 million tons per year), five 155,000 cubic-meter LNG storage tanks, two marine berths built for the world's largest LNG carriers, and heat recovery steam generators that capture waste heat to produce steam and power with reduced emissions intensity. The asset also includes an associated pipeline system (Golden Pass Pipeline) capable of delivering approximately 2.6 bcf/d of feedgas from producers including Williams Energy Resources, Chesapeake Energy, and firm transportation agreements with Enable Midstream Partners and NGPL. First LNG was produced from Train 1 on March 30, 2026, with the first export cargo departing on April 22, 2026; Trains 2 and 3 remain under construction, with McDermott and Chiyoda carrying forward EPC work following the 2024 bankruptcy of original contractor Zachry Industrial.

Revenue is generated primarily through long-dated LNG offtake contracts (e.g., a 20-year SPA with Ocean LNG Ltd. covering 15.6 mmty from 2024 to 2044) plus spot cargo sales once steady-state operations are reached. Underlying economics are commodity-linked to Henry Hub, TTF, and JKM benchmarks; pricing is confidential and not publicly disclosed. As a joint venture, Golden Pass does not report standalone revenue; rather, results are consolidated by QatarEnergy and ExxonMobil. The go-to-market is enterprise field sales executed through the shareholder networks of QatarEnergy (the world's largest LNG producer) and ExxonMobil, with no traditional marketing or channel sales motion required.

Name

Golden Pass LNG Terminal

Legal name

Golden Pass Products LLC

Website

https://goldenpasslng.com

Company type

Private

Founded year

2003

Operating status

Operating

Headcount range

251–500 employees

Short description

Golden Pass LNG is a QatarEnergy (70%) and ExxonMobil (30%) joint venture that exports liquefied natural gas from its Sabine Pass, Texas terminal to global buyers under long-term supply agreements.

Ownership category

akta.pro rank

Product category

LNG Export Terminal Services

NAICS

Pipeline Transportation of Natural Gas (48621)

SIC

Wholesale-Petroleum Bulk Stations & Terminals (5171), Natural Gas Transmission (4922)

akta.pro primary industry

LNG Liquefaction Plants (Onshore & FLNG) (EUALAFAA)

akta.pro secondary industries

LNG Storage, Terminals & Bunkering (Peak Shaving, Small-Scale LNG) (EUALAFAD), LNG Contracting & Commercial (SPAs, Tolling, Offtake, Pricing) (EUALAFAF), LNG Import/Export Terminals & Storage (Regas, Peak Shaving, Small-Scale LNG) (EUALAEAD), LNG EPC, Commissioning & Project Development (Engineering, Construction, Permitting) (EUALAFAI), LNG Import/Export Terminals (Liquefied Natural Gas) (TLAHABAL)

Keywords

• LNG export terminal
• Liquefied natural gas
• Natural gas liquefaction
• LNG storage terminals
• LNG marine loading

Headquarters

HQ city

Houston

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Infrastructure, Supply Chain, Operations, Personnel, Technology or R&D, Marketing or Sales, Others

Revenue model

1. LNG Export Sales: Golden Pass LNG generates revenue through the sale of liquefied natural gas produced at its export terminal. The facility has long-term supply agreements (SPAs) with global customers including Ocean LNG Ltd (15.6 mmty for 20 years, 2024-2044). Once fully operational, the terminal exports approximately 18 million tons of LNG annually to markets in Europe and Asia.
2. Natural Gas Supply Procurement: The terminal procures approximately 2.6 billion cubic feet per day (bcfd) of natural gas from U.S. suppliers including Williams Energy Resources, Chesapeake Energy, and other partners to feed the liquefaction process. This positions Golden Pass as one of the largest buyers of natural gas in the United States.

Go-to-market motion1 record

Distribution channels3 records

Marketing channels5 records

Core offering

Golden Pass LNG operates a large-scale liquefied natural gas (LNG) export terminal in Sabine Pass, Texas, with three liquefaction trains producing approximately 18.1 million tons per year. The facility converts U.S. natural gas into LNG, stores it in five 155,000 m³ tanks, and loads it onto LNG carriers at two marine berths for export to global customers in Europe and Asia under long-term supply agreements and spot sales.

Product overview

Golden Pass LNG operates a single unified product: a large-scale LNG export terminal in Sabine Pass, Texas. The facility comprises three liquefaction trains with combined capacity of 18.1 million tons per year, supported by five LNG storage tanks (155,000 m³ each) and two marine berths for the largest LNG carriers. The terminal converts natural gas to LNG through liquefaction services, stores it in insulated tanks, and loads it onto vessels for export to global markets. The company also procures natural gas supply (approximately 2.6 bcf/d) through various agreements to feed its liquefaction operations.

Differentiator

Problem solved

Functional benefit

Products and services

• Golden Pass LNG Export Terminal One of North America's largest LNG export terminals located in Sabine Pass, Texas, with three liquefaction trains totaling 18.1 million tons per year capacity, five 155,000 m³ LNG storage tanks, and two marine berths for loading the largest LNG carriers in the world. Serves global LNG importers under long-term supply agreements.
• LNG Liquefaction Services Natural gas liquefaction processing services that transform natural gas into LNG by cooling it to minus 260 degrees Fahrenheit, enabling efficient storage and ocean transport for global energy markets.
• LNG Storage and Marine Berthing Services Five 155,000 m³ LNG storage tanks and two marine berths capable of accommodating the largest LNG carriers in the world for storing liquefied natural gas and loading export cargoes.
• Natural Gas Supply Procurement Procurement of approximately 2.6 bcfd of natural gas supply through long-term and short-term supply agreements with U.S. producers including Williams Energy Resources and Chesapeake Energy to feed the liquefaction facility.
• Long-Term LNG Supply Agreements (SPAs) 20-year firm supply agreements with global LNG buyers including Ocean LNG Ltd. for 15.6 million metric tons per year, providing recurring contracted LNG volumes through long-term offtake commitments.

Named customers1 record

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Eight partnerships are on record, tiered major and core.

• Edison (Italy)majorChannel Partner/ Reseller/ Distributor · 2 April 2026Italy began receiving LNG from the Golden Pass facility starting in June 2026 through QatarEnergy's existing relationship with Edison. Edison holds a 6.4 bcm/year contract with QatarEnergy and was notified of paused deliveries from Qatar affecting 10 cargoes between April and mid-June, which Golden Pass supply is helping to offset.
• McDermott and ChiyodacoreImplementation/ SI/ Consulting Partner · 31 March 2026McDermott and Chiyoda International Corporation completed construction and commissioning of Train 1, achieving first LNG production on March 30-31, 2026. Following Zachry's 2024 bankruptcy, McDermott and Chiyoda continued construction as the remaining EPC contractor parties. Trains 2 and 3 remain under construction with these partners.
• Chesapeake EnergymajorStrategic or Co-development Partner · 4 August 2022Chesapeake Energy entered into a term gas supply agreement (GSA) with Golden Pass LNG to supply natural gas for the export terminal. This partnership diversifies Golden Pass's supply base beyond shareholder-affiliated producers.
• Williams Energy ResourcesmajorStrategic or Co-development Partner · 18 May 2020Williams Energy Resources entered into a long-term natural gas supply agreement with Golden Pass LNG, filed with the U.S. Department of Energy. This was one of the first supply agreements supporting the 2.6 bcfd gas portfolio requirement for the export terminal. Golden Pass will buy gas from a wide range of quality partners beyond shareholder-affiliated suppliers.
• Enable Midstream PartnersmajorStrategic or Co-development Partner · 5 February 2019Golden Pass executed a 20-year firm transportation agreement with Enable Midstream Partners to transport natural gas to the facility. Golden Pass also secured pipeline capacity on NGPL (Natural Gas Pipeline Company of America) to meet its full supply delivery requirements.
• QatarEnergy (70%)coreStrategic or Co-development Partner · 1 January 2019QatarEnergy holds 70% ownership in the Golden Pass LNG joint venture, representing QatarEnergy's largest U.S. investment. QatarEnergy is the world's largest LNG producer and brought global LNG expertise and customer relationships to the partnership. The joint venture represents over $10 billion investment and combines QatarEnergy's LNG leadership with ExxonMobil's operational capabilities.
• ExxonMobil (30%)coreStrategic or Co-development Partner · 1 January 2019ExxonMobil holds 30% ownership in the Golden Pass LNG joint venture and serves as operator of the facility. ExxonMobil brings extensive LNG operational expertise, global customer networks, and technical capabilities developed through projects worldwide. The partnership leverages both companies' strengths in developing and operating LNG infrastructure.
• Ocean LNG Ltd.coreStrategic or Co-development Partner · 1 January 2019Golden Pass Products signed a 20-year SPA with Ocean LNG Ltd. for 15.6 million metric tons per year of LNG supply from 2024-2044. This was identified as the contract with the highest export volumes inked by a U.S. LNG project according to GlobalData analysis.

Scale indicators6 records

Recent moves8 records

Expansion highlights5 records

Direct peers

• Venture Global LNG: U.S. LNG export developer and operator of Calcasieu Pass, Plaquemines, and CP2 terminals with growing capacity targeting 100+ MTPA over time. Direct competitor in the U.S. LNG export build-out, supplying the same global customers via long-term SPAs from the Gulf Coast.
• Sempra Infrastructure: Developer and operator of Cameron LNG (Louisiana) and Port Arthur LNG (Texas) export facilities, with similar Gulf Coast siting, multi-train liquefaction design, and long-term SPA-based commercial model.
• Cheniere Energy: Largest U.S. LNG exporter, operating the Sabine Pass and Corpus Christi LNG export terminals with combined capacity of ~45 MTPA. Closest direct competitor and operational peer, sharing the Sabine Pass site footprint and serving the same European and Asian customers with the same product.
• Freeport LNG: Operator of the Freeport LNG export terminal on the Texas Gulf Coast with ~15 MTPA capacity across three trains. Direct U.S. LNG export peer, sharing the Gulf Coast siting, multi-train design, and long-term SPA-based offtake structure.

Broad incumbents

• ExxonMobil: 30% owner and operator of Golden Pass, with global LNG development portfolio and a long history of operating large-scale LNG facilities (e.g., Papua New Guinea, Qatar, Mozambique). Strategic parent and operational peer in liquefaction technology and global LNG marketing.
• Shell: Global integrated LNG player with interests in Prelude FLNG, QGC, and the Gulf Coast LNG market (including as a feedgas supplier via Shell Midstream Partners heritage). Broad incumbent in LNG production, trading, and shipping competing for the same global customers.
• TotalEnergies: Global integrated LNG player operating Cameron LNG alongside Sempra and now developing new U.S. LNG capacity. Comparable to Golden Pass in SPA-based commercial model and as a buyer/seller in the Atlantic and Pacific LNG basins.
• QatarEnergy: 70% owner of Golden Pass and the world's largest LNG producer, operating mega-scale LNG trains in Qatar. Strategic parent and direct supplier/customer in the global LNG market, sharing the long-term SPA commercial model and the liquefaction technology stack.

Emerging players

• Tellurian: Developer of Driftwood LNG (Louisiana) export project. Similar Gulf Coast U.S. LNG export business model with multi-train phased development, though currently earlier-stage and facing commercial/funding challenges.
• NextDecade: Developer of Rio Grande LNG (Texas) export terminal, currently in construction/early operation phase. Comparable business model with three-train liquefaction design and long-term SPA portfolio; smaller and earlier-stage than Golden Pass.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/golden-pass-lng-terminal

Revenue estimate

Valuation estimate

Number of profiles

Profiles7 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Golden Pass LNG Terminal