Golden Pass LNG, the QatarEnergy-ExxonMobil joint venture, said on Wednesday that it had safely loaded and shipped its first LNG export cargo from the Sabine Pass terminal in Texas, a milestone that brings one of the biggest new U.S. export projects closer to full commercial service. The company said Train 1 is now operating, while construction and commissioning continue on Trains 2 and 3.

The key development is not just the cargo itself, but what it signals: Golden Pass has moved beyond first LNG production into exports, effectively entering the global market after years of construction. The terminal is expected to export about 18 million metric tons per year once fully operational, with total nameplate capacity of roughly 18.1 mtpa across three liquefaction trains.

That matters for both U.S. supply growth and global LNG balances. Golden Pass is one of the largest new U.S. LNG projects to come online, and its ramp-up adds fresh Gulf Coast volumes into an international market still focused on energy security, trade flows, and the pace of new liquefaction start-ups. Reuters previously reported the plant was preparing to load its first cargo earlier this month as feedgas flows increased and regulators cleared initial shipments.

The cargo departure also follows another recent project marker. Golden Pass announced first LNG production from Train 1 on March 30, setting up the export phase now underway. The company said the remaining trains are expected to come online sequentially after Train 1 reaches stable operation.

For ExxonMobil, the start of exports adds another major LNG-linked asset to its portfolio, though Golden Pass is held through the joint venture rather than reported as a standalone listed entity. QatarEnergy holds 70% of the project and ExxonMobil 30%, according to recent market reporting.

The project’s progress is notable because Golden Pass had faced earlier construction disruption tied to the 2024 bankruptcy of lead contractor Zachry, an episode that delayed completion of the terminal. Against that backdrop, the first cargo marks a significant execution milestone for the partners and for U.S. LNG export growth more broadly.

By Charles Kennedy for Oilprice.com

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