Sabine Pass to Allow Exportation of Natural Gas
FOR IMMEDIATE RELEASE
6/04/10
Landrieu Welcomes Changes to Sabine Pass to Allow Exportation of Natural Gas
Project will add natural gas liquefaction services.
WASHINGTON — U.S. Senator Mary Landrieu, D-La., today welcomed Cheniere Energy Partners' decision to approve a project to add liquefaction services at the Sabine Pass liquefied natural gas (LNG) receiving terminal in Cameron Parish, Louisiana. Adding liquefaction capabilities would allow the Sabine Pass terminal to export natural gas.
"The United States is currently experiencing a natural gas revolution that will open up new markets here at home and abroad," said Sen. Landrieu. "In northwest Louisiana alone, the Haynesville Shale reserve has 251 trillion cubic feet of recoverable natural gas, almost 11 times the amount consumed by Americans last year. Accessing this growing supply of natural gas and building the means to deliver it to consumers will stabilize prices and allow the U.S. to become a major exporter of natural gas. This project by Cheniere Energy at Sabine Pass is a key piece of that puzzle. The result will be more jobs for Louisianians, a stronger economy and more secure energy future of America."
Cheniere would use its existing infrastructure, including five storage tanks and two berths at the Sabine Pass terminal, as well as Cheniere Energy Inc.'s 94-mile Creole Trail Pipeline, which would be reconfigured to allow the exportation of LNG. The 853-acre Sabine Pass site is strategically situated to provide export services given its large acreage position, proximity to unconventional gas plays in Louisiana and Texas, and its interconnections with multiple interstate and intrastate pipeline systems.
Assuming typical project development scenarios, Cheniere anticipates LNG export could commence as early as 2015.
To learn more about this project, please visit: http://phx.corporate-ir.net/phoenix.zhtml?c=101667&p=irol-newsA...
I'm just doing a flyby post, but thought ya'll might like to see this as it is good news.
Earlene still eating her donuts with coffee :-D
6/04/10
Landrieu Welcomes Changes to Sabine Pass to Allow Exportation of Natural Gas
Project will add natural gas liquefaction services.
WASHINGTON — U.S. Senator Mary Landrieu, D-La., today welcomed Cheniere Energy Partners' decision to approve a project to add liquefaction services at the Sabine Pass liquefied natural gas (LNG) receiving terminal in Cameron Parish, Louisiana. Adding liquefaction capabilities would allow the Sabine Pass terminal to export natural gas.
"The United States is currently experiencing a natural gas revolution that will open up new markets here at home and abroad," said Sen. Landrieu. "In northwest Louisiana alone, the Haynesville Shale reserve has 251 trillion cubic feet of recoverable natural gas, almost 11 times the amount consumed by Americans last year. Accessing this growing supply of natural gas and building the means to deliver it to consumers will stabilize prices and allow the U.S. to become a major exporter of natural gas. This project by Cheniere Energy at Sabine Pass is a key piece of that puzzle. The result will be more jobs for Louisianians, a stronger economy and more secure energy future of America."
Cheniere would use its existing infrastructure, including five storage tanks and two berths at the Sabine Pass terminal, as well as Cheniere Energy Inc.'s 94-mile Creole Trail Pipeline, which would be reconfigured to allow the exportation of LNG. The 853-acre Sabine Pass site is strategically situated to provide export services given its large acreage position, proximity to unconventional gas plays in Louisiana and Texas, and its interconnections with multiple interstate and intrastate pipeline systems.
Assuming typical project development scenarios, Cheniere anticipates LNG export could commence as early as 2015.
To learn more about this project, please visit: http://phx.corporate-ir.net/phoenix.zhtml?c=101667&p=irol-newsA...
I'm just doing a flyby post, but thought ya'll might like to see this as it is good news.
Earlene still eating her donuts with coffee :-D
Views: 54
Replies to This Discussion
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Permalink Reply by king john on
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e&e thanks for posting this. i am familiar with this area, it's where i fish. the last time i was there, one of the facilities appeared still under construction. there are two of these facilities. one in LA. and one in texas. the one on the TX. side still had scaffolding around it. i honestly cant remember if the Cheniere project is the TX or LA one. this release is a bit confusing to me as it states "sabine pass" as being in LA. it is in fact a town in TX. sabine pass is also a body of water separating LA and TX. LOL i remember when they started these projects... there was a rumor going around that "they" were building a new public fishing pier. oh well
kj
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Permalink Reply by Les Bamburg on -
KJ, the Sabine Pass LNG Terminal is on the Louisiana side and you can see additional details at the following link:
http://www.gohaynesvilleshale.com/forum/topics/cheniere-announces-p...
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Permalink Reply by ken hatcher on
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On Mad Money this eve, Kramer reported Cheasapeake had a hand in this and planed to be exporting within 5 years or sooner.
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Permalink Reply by jffree1 on
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Kramer didn't just say we'd be exporters in 5 years, ken. He said, "We will most likely shortly become the world’s largest exporter of a cleaner and better fuel."
http://www.cnbc.com/id/37997122
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Permalink Reply by ken hatcher on
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Nice bit of work! I'm not that computer worthy. I GUESS I was thinking about my Cheasapeake stock while he was talking, I remember he said they would make a killing.
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I don't have any CHK stock and was only half listening but he got my attention when he started talking about the light bulb moment when he found out CHK had an interest in the project at Sabine Pass.
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Permalink Reply by Les Bamburg on
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Jffree1, as you recall Cheniere has mentioned Chesapeake in their original presentation but did not have any specific commitments.
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I remember us discussing the feasibility of using these facilities to export gas rather than import it and I heard Anadarko's ceo on MM last year say that it could be done fairly easily but I guess I missed the part about CHK or I'm having another durn Sr. moment. I was sort of surprised when I heard that today.
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Permalink Reply by Les Bamburg on
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Jffree1, check my June 4th discussion.
http://www.gohaynesvilleshale.com/forum/topics/cheniere-announces-p... -
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Thanks, Les. I do remember reading your article but what I heard today was that CHK was a financial partner. Did I hear that wrong or misunderstand what was being said?
Also, to what I asked earlier about long term contracts... wouldn't foreign markets be the perfect place for that piece of the price puzzle? Also, on that subject, PUC... can they stop commercial end users (chemical plants,industrial, etc...) from negotiating long term deals? Or just power plants? -
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Permalink Reply by Les Bamburg on
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Jffree1, please see my posting below.
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