LNG Projects Clear FERC Review

Federal Energy Regulatory Commission (FERC) staff recently said two proposed liquefied natural gas import terminals on the Mississippi coast would not significantly harm the environment, clearing a major hurdle for the projects to win final approval from the agency.

The proposed LNG Clean Energy Project that would be located in the Port of Pascagoula would be able to send out up to 1.5 billion cubic feet of gas a day. The $450 million terminal, which would be operated by the Houston-based private investor group Gulf LNG Energy LLC, would be able to handle 150 LNG tankers a year.

Separately, Chevron Corp's Casotte Landing LNG project would be located next to the company's Pascagoula refinery and will process imported LNG for distribution to industrial, commercial and residential customers in Mississippi and the Southeast region, including the growing Florida market. The terminal would be able to send out 1.3 billion cubic feet of LNG a day. The two LNG projects will be voted on at a later meeting of the FERC's commissioners. The operators of the projects plan to have them in service in 2009.

(Source: Reuters)