QP Calling Downstream LNG Tune For Trading-Shy Exxon

摘要

Word earlier this month that Exxon Mobil,ConocoPhillips and state Qatar Petroleum (QP) are moving forward with the 2 billion cubic foot per day (15.6 million ton per year) Golden Pass terminal near Port Arthur,Texas,sets the stage for some dramatic shifts in trans-Atlantic LNG marketing in the years ahead (WGI Aug.2,p5).By the end of the decade,QP and its Western partners,most notably Exxon,are poised to have vast amounts of not only LNG production,but also receiving capacity on both sides of the Atlantic - in the UK,on the European continent and in the US.Despite the big financial gains the UK's BG and others have chalked playing the trans-Atlantic arbitrage game in recent years,Exxon is inclined to embrace a more conservative business model,similar to its approach to oil marketing,WGI understands (WGI Jun.l4,p2).