CLAIM #64186 · Exxon Mobil Corp (XOM) · 2024Q3 earnings call · Nov 1, 2024 · due Dec 31, 2025
“We anticipate today that that venture will basically be delayed by about six months. So, we expect to see first LNG out of that train back-end of 2025, to potentially slipping over into the New Year, but it'll be in that timeframe that we see.”
Darren Woods · CEO
In context
“y, and team. I just want to spend some time talking about the startups of the key LNG projects. And maybe you could talk about what we're seeing in terms of de-risking Golden Pass, and bringing that into service? And then we get less visibility on what's happening in Qatar, but it's going to be a big important project, North Field Expansion. So, to the extent you're able to, can you just share your perspective of how that's going on the ground? Darren Woods: Yes, good morning, Neil. Thanks for the question. I'll just say, obviously, that the Golden Pass venture is managing the project, and we're contributing as best we can, and obviously worked with the venture in response to the bankruptcy. And that team, I think, is making really good progress at re-optimizing the work and the schedule. We anticipate today that that venture will basically be delayed by about six months. So, we expect to see first LNG out of that train back-end of 2025, to potentially slipping over into the New Year, but it'll be in that timeframe that we see. And then, of course, each train after that, we anticipate about six months' separation between the trains coming on. So, think that venture has done a lot of really good work to overcome what was a pretty challenging set of circumstance. And we feel pretty good about the path that they're on. There's still more work to do, but I think a really good vector. And the fact that the existing contractors that were involved in that venture have stepped in to fill the void and pick up the baton and keep running the race I think is a huge testament to those and their commitment to the success of this project, along with all the folks at the venture who were working this real hard. So, we stay close to it, but the venture organization there really owns that and deserves the credit for the recovery”
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SEC filings for XOM ↗ · Claim quote is verbatim from the 2024Q3 earnings call.