By Stephen Nakrosis

Exxon Mobil Corp. (XOM) and Qatar Petroleum on Tuesday announced the companies will proceed with developing the Golden Pass LNG export facility in Sabine Pass, Texas.

Construction on the $10 billion project is slated to begin in the first quarter of this year and is expected to be completed in 2024, the companies said.

Once completed, the facility will be able to produce around 16 million tons of liquefied natural gas a year.

The companies said construction will create about 9,000 jobs and more than 200 permanent jobs will be created to operate the facility.

Qatar Petroleum will own 70% of the Golden Pass project, with Exxon Mobil holding the other 30%.

--Write to Stephen Nakrosis at stephen.nakrosis@wsj.com

(END) Dow Jones Newswires

February 05, 2019 13:01 ET (18:01 GMT)

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