US FERC Approves Sempra LNG Export Project

Posted by Eric Haun
Thursday, June 19, 2014

U.S. regulators on Thursday approved Sempra Energy's bid to build a liquefied natural gas export terminal in Louisiana, opening the door to a significant expansion of the American role in global gas trade.

Sempra's Cameron LNG facility was the second gas export project to get the green light to begin construction from the Federal Energy Regulatory Commission and the first since 2012, when FERC permitted Cheniere's Sabine Pass project.

With the FERC approval in hand, Cameron will likely soon receive its final permit from the Energy Department allowing the facility to export gas to all countries, which would make it the only project outside of Sabine Pass fully licensed at the federal level.

The Energy Department issued a conditional export permit for Cameron in February, contingent upon the project receiving a construction license from FERC.

Cameron, Sabine Pass and more than two dozen other projects are in a race to sell relatively cheap, abundant U.S. shale gas to foreign countries where it can fetch higher prices.

A vocal coalition of heavy industrial companies, led by Dow Chemical, has argued that this push for gas exports could raise domestic energy prices and hurt the economy if left unchecked.

But many Republicans and some Democrats from gas-producing states have pressed for federal regulators to move quickly to issue decisions on applications, warning that the United States could lose out to other countries such as Qatar and Australia seeking to export natural gas.

Companies must receive approval from FERC regarding the safety and environmental impact of their projects before they can begin construction.

The Energy Department determines whether requests to export LNG to countries without free trade agreements with the United States are in the national interest.

Sempra shares, which posted record highs on Wednesday and early Thursday in anticipation of FERC approval, were down 26 cents, or 0.25 percent, at $103.87 in late-morning U.S. trading.

(By Ayesha Rascoe; Reporting by Ayesha Rascoe; Editing by Ros Krasny, Jeffrey Benkoe and Jonathan Oatis)

Maritime Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter May 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Ports

BEST Sets Container Handling Record

Hutchison Port Holdings Limited (HPH) subsidiary Barcelona Europe South Terminal (BEST) achieved a new record when it moved 7,760 TEU on the call of MSC Beatrice.

KOTUG Begins Operations in Mozambique

KOTUG Mozambique has begun exclusive port and terminal towage services with two Rotortugs in the new port of Nacala-a-Velha in northern Mozambique for Nacala Development Corridor (CDN),

French Oil and Port Workers Vote to Begin New Strikes

Oil sector workers of French CGT and FO unions voted on Monday to begin a strike at Exxon Mobil's 240,000 barrels-per-day Port Jerome refinery in northern France, the unions said in a joint statement.

LNG

DSME, Sovcomflot Delay Delivery of First Arctic LNG carrier

South Korea's Daewoo Shipbuilding & Marine Engineering (DSME) and Sovcomflot have agreed to delay a liquefied natural gas carrier being built for the Yamal LNG project in Russia.

HUMMEL LNG Hybrid Barge Begins Second Season

For over one year the HUMMEL has been contributing to improved air quality at the port of Hamburg. Becker Marine Systems’ LNG Hybrid Barge will also be supplying

France's CGT Will Block Elengy's LNG Terminals

France's hardline CGT union said on Monday that workers at Elengy, which operates three liquefied natural gas (LNG) terminals in France, will go on strike from midnight until May 26 midnight included.

News

China Shipbuilding Plans Major Restructuring

State-owned China Shipbuilding Industry Corp (CSIC) is undertaking a major restructuring as it grapples with an industry downturn, and it will be the largest restructuring

Sovcomflot IPO Soon

The long-awaited initial public offering (IPO) of Sovcomflot, which runs one of the world’s largest tanker and gas carrier fleets, has moved a step closer.    Economy

BEST Sets Container Handling Record

Hutchison Port Holdings Limited (HPH) subsidiary Barcelona Europe South Terminal (BEST) achieved a new record when it moved 7,760 TEU on the call of MSC Beatrice.

Government Update

First Cruise Company Fined under Australia’s New Fuel Rules

Australia’s NSW Environment Protection Authority (EPA) has fined Carnival PLC $15,000 after one of its P&O Cruises ships, the Pacific Jewel, breached new low sulfur fuel regulations in Sydney Harbour.

TT Club Welcomes IMO Guidance on SOLAS VGM Amendment

At an International Maritime Organization (IMO) Maritime Safety Committee session in London that culminated on Friday, delegates agreed on guidance and advice to

South Africa arrests Chinese ships for illegal squid fishing

South Africa's navy has detained three Chinese ships with around 100 crew on board on suspicion of illegal squid fishing, officials said on Monday. The ships

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Naval Architecture Navigation Pipelines Pod Propulsion Ship Repair Ship Simulators Shipbuilding / Vessel Construction Winch
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.0857 sec (12 req/sec)