Gas Traders Await Start of Massive US Plant as Iran War Hits Supply
The Golden Pass liquefied natural gas terminal under construction in Sabine Pass, Texas in February 2025.
Photographer: Callaghan O'Hare/BloombergA massive US natural gas export complex owned by QatarEnergy and Exxon Mobil Corp. is still in startup mode as the Iran war upends global supply, disappointing traders who were anticipating more progress at this stage.
Golden Pass, a terminal near the Texas-Louisiana border, is poised to be a critical source of supply after Iran strikes damaged Qatar’s giant Ras Laffan facility on the Persian Gulf. The loss of one of the world’s top exporters has sent liquefied natural gas prices in Europe and Asia soaring, threatening to unleash an energy crisis in countries that have become heavily dependent on Qatari cargoes of the heating and power-plant fuel.