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 March 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Ports

Cosco Bulk Shipping Losses Down in 2014

China Cosco said losses in its main dry bulk shipping business fell sharply in 2014 and its container shipping gross profit grew amid a still subdued global shipping market.

APM Terminals Mumbai Welcomes China Shipping

APM Terminals Mumbai welcomed China Shipping Container Line’s HS Paris on March 20th, on her maiden call as part of the Middle East-Indian Subcontinent-North America (MINA) Service,

Princess Astrid visits DP World

Antwerp Gateway, managed by DP World (one of the largest container terminal operators in the world) is a significant contributor to the success of the Port of Antwerp.

LNG

GAIL Seeks 7 LNG Cargoes

GAIL (India) will buy seven liquefied natural gas (LNG) cargoes for delivery from October 2015 until December 2016, according to the tender document obtained by Reuters.

Big Spending on Liquefaction Terminals

Capital expenditure (Capex) on global liquefied natural gas (LNG) facilities is expected to total $259 billion over the forecast period 2015-2019, according to

Studies Show U.S. Offshore’s Untapped Potential

While short-term news emanating from the global energy sector was universally negative in the waning months of 2014 as the price per barrel continued to plummet below $60,

News

Cosco Bulk Shipping Losses Down in 2014

China Cosco said losses in its main dry bulk shipping business fell sharply in 2014 and its container shipping gross profit grew amid a still subdued global shipping market.

Steady Growth Reported by the Swedish Club

The Swedish Club reported a solid operating result to its board today, continuing a record of building on steady growth. 2014 was seen as a stable year, where

MOL’s Coal Carrier for Tokyo Electric Power

Mitsui O.S.K. Lines, Ltd. today announced that the coal carrier Hakutaka, which will serve Tokyo Electric Power Company, Inc. was delivered at Mizushima Shipyard

Government Update

Cosco Bulk Shipping Losses Down in 2014

China Cosco said losses in its main dry bulk shipping business fell sharply in 2014 and its container shipping gross profit grew amid a still subdued global shipping market.

Qatar Hikes Container Storage & Clearance Charges

Changes to sea port charges have been implemented in Qatar, as per the decision of the country's Council of Ministers.   20' containers (clear in approx. 3–7 days,

US Will Work to Ensure Bab-el-Mandeb Strait Remains Open

The U.S. military will work with Gulf and European partners to ensure the strategic Bab el-Mandeb Strait at the tip of the Red Sea remains open to commerce despite fighting and instability in Yemen,

 
 
Maritime Careers / Shipboard Positions Maritime Standards Naval Architecture Offshore Oil Pipelines Port Authority Salvage Ship Electronics Ship Simulators Shipbuilding / Vessel Construction
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: 0.1728 sec (6 req/sec)