Port Dolphin Energy, Port Manatee $30M Deal

Friday, March 19, 2010
Port Manatee

The Manatee County Port Authority approved a long-term $30m agreement with Port Dolphin Energy LLC, providing Fla. with a second major source of natural gas. Port Dolphin officials estimate its project will generate more than $150m in direct economic impact within Manatee County during the next 20 years. Construction of the project is expected to begin in 2012 with completion in 2013.

During the first five years of the agreement, Port Manatee will receive more than $16m in cash and assets, followed by about $15m per year over the remainder of the agreement. The port authority’s approval precedes a pending decision by the U. S. Maritime Administration to issue a deepwater port license to Port Dolphin to construct a liquefied natural gas (LNG) port 28 miles off the coast of Manatee County, Fla. 

With MARAD’s deepwater port license, LNG tankers would arrive at Port Dolphin’s offshore facility and then connect to a new undersea pipeline system that would come onshore at Port Manatee. Port Dolphin’s vessels will be outfitted to re-gasify its cargo of LNG, returning it to a gaseous state onboard the offshore ships.  The natural gas would then be fed into a submerged pipeline, ultimately serving customers throughout Florida.

In addition to its offshore port facility and pipeline, Port Dolphin will also base an operations center at Port Manatee. According to a recent economic impact study, Port Manatee currently contributes more than $2.3b to the region’s economy annually and creates directly or indirectly nearly 24,000 jobs. Florida’s first trans-Gulf of Mexico natural gas pipeline made landfall at Port Manatee in 2002. 

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

Offshore

Lack of Ship Definition is a Threat to Investors

AKD says the lack of an unambiguous term to describe a ‘ship’ in several jurisdictions represents a potential threat to asset security for financiers, particularly

UK North Sea Workers Give "Overwhelming" Support for Strike

Trade unions Unite and GMB said members working offshore in Britain's North Sea oil and gas industry had shown overwhelming support for industrial action in a consultative

Statoil: Polarled Pipe-Laying Kicks Off

On 26 March, the Solitaire pipe-laying vessel started on the first stage of the Polarled installation project. The 482-kilometre long pipeline will transport gas

Ports

Plans in Place to Test Intermodal River Transport

The Paducah-McCracken County Riverport Authority and Ingram Barge Company has announced plans to assess the viability of Intermodal River Transportation, utilizing

Asia-Europe Box Rates Fall Almost 6 pct

Shipping freight rates for transporting containers from ports in Asia to Northern Europe fell 5.5 percent to $586 per 20-foot container (TEU) in the week ended on Friday,

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.

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Maritime Standards Naval Architecture Navigation Ship Repair Shipbuilding / Vessel Construction 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: 0.3243 sec (3 req/sec)