State-owned QatarEnergy owns a 70 percent stake in the three-train Golden Pass project with a capacity of more than 18 mtpa and will offtake 70 percent of the capacity, while US energy firm ExxonMobil has a 30 percent share.
Discussing the start-up of the Golden Pass LNG project during ExxonMobil’s fourth-quarter earnings call on Friday, Woods said that the joint venture “has done a really good job of recovering from the bankruptcy.”
“Obviously, that was a huge break, but they really got back on track and feel good about the progress they’ve made and mechanically completed that project in the fourth quarter of last year,” he said.
He was referring to Train 1 achieving mechanical completion late in the last year.
“We’re basically into commissioning and start-up now. My expectation is we will see kind of first LNG produced in very early March is what’s looking like right now,” Woods said.
A joint venture of Chiyoda, McDermott, and Zachry won the EPC contract to build the three Golden Pass trains worth about $10 billion next to the existing LNG import terminal in the vicinity of Sabine Pass, Texas.
However, Zachry Holdings said in May 2024 that it had filed for bankruptcy, initiating a structured exit from the Golden Pass LNG export project due to “financial challenges” related to the facility’s construction.
In November 2024, Japan’s Chiyoda and McDermott’s CB&I reached a deal with Golden Pass LNG to complete the construction of the first liquefaction train following the exit of Zachry.
Additionally, Chiyoda and McDermott signed a revised EPC contract with Golden Pass LNG in November 2025 to complete the construction of the second and third liquefaction units.
Commissioning
Golden Pass recently received approval from the US FERC to place into service the Sabine Spur facilities.
In addition to this approval, FERC recently approved a request by Golden Pass to introduce hazardous fluids into the refrigerant storage system and the Train 1 dry liquid flare header.
Golden Pass also filed a request with FERC to introduce hazardous fluids into warm end systems.
The JV requests a notice to proceed authorization to introduce hazardous fluids into these systems.
The JV has also received FERC approval to introduce hazardous fluids to the thermal xxidizers under the notice to proceed dated December 23, 2025.
Golden Pass intends to place the thermal oxidizers into service with the systems in this request, it said.
