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 Reporter August 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Ports

Air Pollution Continues Decline at Port of Long Beach

Diesel air pollution from ships, trucks, trains and other big machines at the Port of Long Beach has declined by 82 percent since 2005, a comprehensive air quality analysis has found.

New Rotation of CMA CGM Joint Service Unveiled

CMA CGM S.A. (CMA CGM) announced the rotation of its new service in cooperation with China Shipping Container Lines (CSCL), Orient Overseas Container Lines (OOCL)

ecoTAURuS Aims to AccelerateTerminal Process

Inlecom Systems Ltd (Inlecom), the transport and logistics research and innovation company, has launched ecoTAURuS, the e-transport solution for real time truck

News

Air Pollution Continues Decline at Port of Long Beach

Diesel air pollution from ships, trucks, trains and other big machines at the Port of Long Beach has declined by 82 percent since 2005, a comprehensive air quality analysis has found.

Steel Cut on First of Three ISVs for KT Maritime

A steel cutting ceremony held last week at the Singapore shipyard of partner company, ASL Shipyard Pte Ltd. marked the start of construction for the first of three

Too Many Passengers Lands Ferry Company in Court

Carrying numbers of passengers, including schoolchildren, far in excess of its license, has cost representatives of a Hampshire ferry company fines and costs totaling £12,340.

Government Update

House Introduces Vessel Discharge Legislation

The American Waterways Operators, a 350-member trade association representing the U.S. tugboat, towboat and barge industry, hailed the House introduction of critical

In Support of Affordable Energy

As its key mission, Waterways Council, Inc. (WCI) advocates for a modern and well-maintained system of inland waterways and ports. WCI’s top issues areas include

Rosneft, ExxonMobil Continue Drilling for Now

Russia's Rosneft and U.S. ExxonMobil are continuing to drill in the Kara Sea and plan to stop work by Oct. 10, Russian Deputy Energy Minister Kirill Molodtsov said on Tuesday.

 
 
Naval Architecture Navigation Offshore Oil Pipelines Pod Propulsion Port Authority Salvage Ship Repair Sonar Winch
rss | archive | history | articles | privacy | terms and conditions | 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: 0.1165 sec (9 req/sec)