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

Ports

LCA Sees Progress on Great Lakes Issues

Prospects for ending the dredging crisis and resolving other pressing issues on the Great Lakes are the best in 12 years according to Lake Carriers’ Association (LCA),

Port of LA to Start Yusen Terminal Improvements

Project will enhance wharf, rail and yard infrastructure to optimize terminal operations   The Port of Los Angeles will begin construction this summer on a two-year

Ferry Workers Block Calais Port Again in Dispute

Employees of a ferry service recently sold by Eurotunnel renewed a blockade of the northern French port of Calais on Monday after a court rejected their bid to

LNG

Tanker Converted to LNG-electric Propulsion

Bergen Tankers’ 95-meter-long chemical and product tanker Bergen Viking has returned to service following its conversion from diesel-electric to liquefied natural gas (LNG)-electric propulsion.

Cheniere’s Maiden LNG Spot Deal At $7.20/MMBtu

Cheniere concluded its maiden LNG spot trade earlier this week at for late-July delivery to an Asian buyer, reports Platts quoting a source with direct knowledge of the deal.

Panama Canal Plans LNG Terminal

The Panama Canal Authority (ACP), which administers the canal, is looking at building a Liquefied Natural Gas (LNG) import terminal near the Canal.   The ACP

News

HMS Queen Elizabeth Powers to Life

U.K. Royal Navy aircraft carrier HMS Queen Elizabeth has produced power from her onboard diesel generators (DGs) for the first time, marking a significant stage in the program.

Maritime, Migration Heads Pledge Joint Action

The heads of the International Maritime Organization (IMO) and the International Organization for Migration (IOM) on Monday, June 29 reaffirmed their commitment

SUNY Maritime College Names ABS Chairs

The State University of New York (SUNY) Maritime College has selected Dr. Richard Burke and Dr. Christopher Clott as its inaugural ABS chairs following a comprehensive

Government Update

Maritime, Migration Heads Pledge Joint Action

The heads of the International Maritime Organization (IMO) and the International Organization for Migration (IOM) on Monday, June 29 reaffirmed their commitment

Canada Slaps Sanctions on Russia Energy Firms

Canada slaps sanctions on Gazprom, other Russia energy firms   Canada is imposing economic sanctions against Russian energy firms such as natural gas producer

Chinese Prime Minister to Visit CMA CGM

The CMA CGM Group is will host the Chinese Prime Minister Li Keqiang in its Marseilles headquarters on July 1.   Chinese Prime Minister Li Keqiang is scheduled

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Standards Navigation Pipelines Pod Propulsion Port Authority Ship Repair Ship Simulators Shipbuilding / Vessel Construction
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: 0.1317 sec (8 req/sec)