Exxon, Qatar win three-year FERC extension to build joint Texas LNG plant

Exxon Mobil (NYSE:XOM) and Qatar Energy were granted a three-year extension to finish building their joint venture Golden Pass LNG plant in Texas, Reuters reported Thursday, citing a Federal Energy Regulatory Commission filing.

The extension was granted because of delays caused when lead construction contractor Zachry Holdings filed for bankruptcy in March, the filing reportedly said.

Golden Pass has not yet announced a new EPC contractor and has been in negotiations with McDermott International (OTC:MCDIF) to be the lead contractor on the project.

The project is one of two large U.S. liquefied natural gas facilities whose startups would significantly expand U.S. supply in the next 12 months.