CAMERON LNG BREAKS GROUND, WILL BEGIN EXPORT IN 2018
CONSTRUCTION STARTS ON CAMERON LNG PLANT
Published: Oct. 24, 2014 at 7:26 AM Daniel J. Graeber upi.com
HACKBERRY, La., Oct. 24 (UPI) -- Construction began in Louisiana on a plant cleared to export around 1.7 billion cubic feet of U.S. natural gas per day, joint venture partners said.
Officials from the consortium led by Sempra Energy and Japan's Mitsubishi Corp. were on hand for the groundbreaking ceremony in Hackberry, La., for the Cameron liquefied natural gas project.
"We look forward to 2018 when the first LNG cargo is loaded and on its way to global markets," Farhad Ahrabi, chief executive officer at Cameron LNG, said in a Thursday statement.
Development group Cameron LNG said the Hackberry plant represents a $10 billion investment. Once completed, it will be able to export 12 million tons of LNG, or around 1.7 billion cubic feet per day.
The groups behind the project have export deals with several Asian countries. Critics of U.S.-sourced LNG say it will lead to more hydraulic fracturing, the controversial drilling technique behind the shale oil and gas boom in North America.
The Federal Energy Regulatory Commission issued its final environmental impact statement on the Cameron LNG facility in early May. The construction and operation of the facility would result in some environmental damage, but that damage would be rendered "less-than-significant" by the group's proposed mitigation strategies, FERC said.
Read more: http://www.upi.com/Business_News/Energy-Resources/2014/10/24/Constr...
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Replies to This Discussion
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Permalink Reply by dbob on
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Right now, I'm beginning to think that with the time to start up, push to reduce flaring in the Bakken, Eagle Ford, and Permian, as well as the continued ramp in Utica and Marcellus, that the first 4 to 5 lng export projects will not substantially change the cost of natural gas. Developing additional markets/demand in the US is probably more important.
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Permalink Reply by Skip Peel - Mineral Consultant on
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I agree, dbob. I expect that 4 to 5 years from now the transportation infrastructure for natural gas will be such that all major gas producing regions will have connections to multiple markets and that prices will be slightly higher but viewed as stable for an extended period of years, if not decades. I also think that is the right combination for many energy users to make long term commitments to use natural gas or convert to natural gas. I expect that will be a boon to our country in a number of ways.
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Permalink Reply by Two Dogs, Pirate on
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Sasol is building an 8 billion ethane cracker complex in Lake Charles.
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Permalink Reply by Skip Peel - Mineral Consultant on
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The list of new plants and expansions of existing plants is very impressive. About $100B in investment for the LA and upper TX coasts and the Lower Mississippi River Industrial Corridor. What I have yet to see is the volumes and types of hydrocarbons that will be required to operate those plants. The LNG facilities get a fair amount of media attention but the bulk of that $100B investment flies below the radar.
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Permalink Reply by Two Dogs, Pirate on
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Kinder Morgan/Mark West Y-Grade pipeline plans are to reverse flow of a pipeline that use to supply gas to the Northeast. The line comes into Natchitoches and a new 200 miles of pipeline built to Mont Belview Tx to connect to a proposed cracker plant that would be a JV with Kinder Morgan and an un-announced partner. Last I heard this project was still in review by FERC.
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Permalink Reply by Michael Lowe on
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Saw the Sabine Pass LNG tanks and I couldn't believe the infrastructure. HUGE
Big Question: Will they get gas from the Haynesville?
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Permalink Reply by Skip Peel - Mineral Consultant on
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Good question, Michael. The specific answer is above my pay grade. The general answer to where they will get their gas is, from the low price supplier(s). The Haynesville will be one of a number of supply options. Many of those other options have better economics. In other words, lower cost to produce an mcf. Then it becomes a question of cost to transport gas - from West Texas or the Marcellus and Utica producing areas.
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