Partners ExxonMobil (XOM) and Qatar Energy have pushed back the start date for Golden Pass LNG to late 2025 following the bankruptcy of lead contractor Zachry Holdings, Bloomberg reports. East Daley Analytics assumes a January ’26 start for Train 1 of the Golden Pass project in our latest monthly natural gas forecasts.
Golden Pass LNG will start operations six months later than previously planned as a result of work stoppages from the Zachry bankruptcy, XOM CFO Kathy Mikells told Bloomberg. Zachry filed for Chapter 11 protection in May ’24 seeking an exit as the lead engineering, procurement and construction (EPC) contractor for the .
The partners and Zachry reached a settlement agreement in July that removes Zachry and allows Chiyoda to take over as the EPC lead for the project under construction near Sabine, TX. As of the latest work stoppage, Train 1 at Golden Pass LNG was 83% complete, according to a progress report filed with the Federal Energy Regulatory Commission (FERC). Train 2 and Train 3 were 46% and 31% complete, respectively. As part of the original EPC joint venture, Chiyoda was only responsible for the commissioning phase of Train 1.
East Daley had already pushed back the expected start date of the Golden Pass facility after the two-month bankruptcy proceeding halted momentum. In the latest monthly Macro Supply & Demand Forecast, we expect Golden Pass Train 1 to begin service in January 2026. EDA’s new regional gas models also reflect the project delay.
Despite the postponement, the demand outlook remains strong for LNG exports in 2025. The figure shows EDA’s LNG project stack in Energy Data Studio. Several other projects plan to start in the next year, including Cheniere Energy’s (LNG) Corpus Christi Phase III and Venture Global’s Plaquemines LNG, and should contribute to growth. – Oren Pilant & Andrew Ware Tickers: LNG, XOM.
Join Our Next Webinar - NGLs Heading into a Super-Volatility Cycle
East Daley is here to help you get ahead of volatility. Don't miss this exclusive webinar diving into trends in NGL markets. Join our next webinar - NGLs Heading into a Super-Volatility Cycle: We See It Coming Soon. Join us on August 28 at 10 AM MST. Register here.
Propane Supply and Demand Report and Data Set: Coming Soon
Propane Supply and Demand is a Data File & Report that includes historical and forecasted supply and demand components for propane including gas plant propane production, refinery propane production, domestic demand from steam crackers and other consumption, plus propane (LPG) exports. Learn more about the Propane Supply and Demand Report and Data Set.
Sign Up for the NGL Insider
East Daley NGL Insider provides weekly updates on the US NGLs market including supply and demand fundamentals, basin-level views, and analysis of market constraints and infrastructure proposals. We explore sub-basin dynamics and provide market insights on NGL flows, infrastructure, and purity products. Sign up now for the NGL Insider.
The Daley Note
Subscribe to The Daley Note (TDN) for midstream insights delivered daily to your inbox. The Daley Note covers news, commodity prices, security prices and EDA research likely to affect markets in the short term.