Cheniere Energy to Build US' Largest LNG Export Terminal
by: Andrew Schneider, April 18, 2012 10:04:00 am
Cheniere says the Federal Energy Regulatory Commission has cleared the construction of the Sabine Pass LNG terminal in Cameron Parish, Louisiana. The facility, which will chill natural gas into a liquid that can be shipped on tankers, will let US-based producers export natural gas to overseas markets for higher profits.
Andrew Ware is a spokesperson for Cheniere.
"We have four main customers for the project -- BG Group, based in the UK; Gas Natural, which is a Spanish-based utility; GAIL, which is a pipeline and gas distributor based in India; and KOGAS, which is the main utility for South Korea and the largest liquefied natural gas buyer in the world. Those four customers have each taken one train in our facility, in our project, and from the commercialization standpoint, we’re sold out."
The US currently lacks the ability to export natural gas in large quantities. Demand for facilities like Sabine Pass has grown following a production boom that’s pushed US natural gas prices to ten-year lows.
Andrew Schneider. KUHF Business News.