"Exxon Mobil and Qatar Energy Secure Extension for Texas LNG Project"

Federal regulators granted Exxon Mobil (NYSE:XOM) and Qatar Energy a three-year extension on Thursday to complete the construction of the Golden Pass LNG facility in Texas. This decision follows delays caused by the bankruptcy filing of the project's primary construction contractor, Zachry Holdings, in March.

The extension, detailed in a filing by the Federal Energy Regulatory Commission, gives the joint venture additional time to complete the development of the liquefied natural gas facility. The regulatory document did not specify a new completion deadline but indicates a significant postponement from the original schedule due to the unexpected construction halt.

The Golden Pass LNG facility is a critical infrastructure project poised to contribute to the energy sector once operational. The extension responds to the challenges faced by the project partners, aiming to provide adequate time to address issues arising from the contractor's bankruptcy. Given the potential impact on energy supply and market dynamics, the project's progress is closely monitored by industry observers and stakeholders.