ExxonMobil and Qatar Petroleum have announced that they will proceed with development of the $10 billion Golden Pass LNG export project located in Sabine Pass, Texas. Qatar Petroleum will invest more than $8 billion and ExxonMobil more than $2 billion in the project. The decision to self-financing the project reflects Qatar Petroleum and ExxonMobil’s confidence in LNG demand growth over the longer term. The Department of Energy has authorized 23.05 billion cubic feet per day (235 billion cubic meters per year or 177 MTPA (million tons per annum) of LNG) of natural gas primarily spread across 10 large-scale export projects in Louisiana, Texas, Maryland, Georgia, and the Gulf of Mexico. Once completed, Golden Pass will be the seventh large scale LNG export project in the United States and be capable of exporting more than 2 billion cubic feet per day of U.S. LNG to any county.