$10 Billion Texas Terminal Ships First Cargo as Global Gas Trade Reshapes
A $10 billion steel terminal on the Sabine-Neches Waterway in southeast Texas has finally come online as an LNG export facility, shipping its first cargo in April 2026. The terminal was originally built in 2010 as an import facility but sat idle for years after the US shale revolution flooded the market with natural gas. In 2019, the joint venture owners made a $10 billion bet to convert it into an export terminal.
The conversion project faced numerous challenges, including a contractor's bankruptcy filing in 2024 that halted construction and forced the owners to find a new team to finish the plant. Despite these setbacks, the Golden Pass LNG terminal was able to achieve first LNG production in March 2026 and shipped its inaugural cargo just 23 days later.
The first cargo, carried by the Liberian-registered vessel Al Qa'iyyah, left port on April 22, 2026. When fully operational, the terminal is expected to export about 18 million tons of LNG per year, making it one of the largest US LNG export projects currently shipping.