US LNG Exports: Pangea Project Gets Green Light

Press Release
Tuesday, February 05, 2013

US Department of Energy grants Pangea LNG Project permission to export LNG from its South Texas LNG Project, Corpus Christi Bay.

The U.S. Department of Energy has granted Pangea long-term, multi-contract authorization to export liquefied natural gas (LNG) to free trade agreement (FTA) nations.

Pangea LNG will be authorized to export up to 8 million metric tons per annum (mtpa) of LNG produced from domestic gas fields for a 25-year term commencing on the date of its first export.  That amount is equal to 1.09 Bcf/day of natural gas.

Pangea LNG has also filed an application with DOE requesting authorization to export LNG to any country with which the U.S. does not have a free trade agreement in effect. That application, which was filed in December, is pending.

"Approval by the US DOE is a positive step forward for this project, which represents a significant investment in the development of the LNG market in the U.S.," said John Godbold , Pangea LNG project director. "Exporting LNG will help stabilize U.S. natural gas prices, grow and sustain drilling and production jobs, and stimulate additional investment in developing the country's gas reserves."

DOE approval of FTA authorization is part of the regulatory process necessary to develop Pangea LNG's new LNG export terminal on a 550-acre site. The site is located on the 45-foot deep La Quinta Ship Channel which is part of the Port of Corpus Christi, the sixth busiest U.S. seaport in terms of tonnage.

The South Texas LNG Project is subject to federal, state and local regulatory approvals with the Federal Energy Regulatory Commission (FERC) acting as the lead federal agency. Pangea will begin the FERC pre-filing process by the second quarter of 2013 and expects the project to be in operation by at least 2018.
 

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

Legal

Reports: Brazilian Tycoon Batista Investigated For Financial Crimes

Brazils federal police have opened an investigation into former billionaire Eike Batista for financial crimes, including insider trading, manipulation of markets and money laundering,

Shell Commited To Russia Expansion Despite Sanctions

Royal Dutch Shell is committed to expansion in Russia, Chief Executive Ben van Beurden told Russian President Vladimir Putin at a meeting on Friday amid sanctions

Ex-BP Employee Settles Insider-trading Oil Spill Case

A former 20-year veteran of BP plc who oversaw the company's cleanup efforts from the Deepwater Horizon oil spill will pay more than $224,000 to settle civil charges

Ports

Canaveral Tops State List for Sand Bypass Funding

The Canaveral Harbor Inlet Sand Bypass Project has earned the top state ranking for 2014/15 inlet management funding. As a result, Port Canaveral is expected to receive $100,

Rotterdam port's throughput almost stable

The Port of Rotterdam’s throughput in the first quarter of 2014, at 109 million tonnes, was 0.2% below the level for the corresponding period last year.Split up by goods type,

CMA CGM Strengthens Madagascar Presence

Since the creation of CMA CGM Madagascar in 2003, container shipping company CMA CGM Group has continued to develop on the island to move closer to its valued customers

Government Update

Reports: Brazilian Tycoon Batista Investigated For Financial Crimes

Brazils federal police have opened an investigation into former billionaire Eike Batista for financial crimes, including insider trading, manipulation of markets and money laundering,

Shell Commited To Russia Expansion Despite Sanctions

Royal Dutch Shell is committed to expansion in Russia, Chief Executive Ben van Beurden told Russian President Vladimir Putin at a meeting on Friday amid sanctions

Obama Offers US Aid to S.Korea Following Ferry Accident

U.S. President Barack Obama on Thursday expressed condolences to the families of the victims of the South Korean ferry sinking and said the U.S. military will provide

 
 
Maritime Contracts Maritime Standards Navigation Offshore Oil Pipelines Ship Repair Ship Simulators Shipbuilding / Vessel Construction Sonar 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: 0.1592 sec (6 req/sec)