Posted on 05/10/2013 12:51:53 PM PDT by slumber1
Exxon Mobil and Qatar Petroleum International have announced plans to build a $10 billion natural gas liquefication facility in the Gulf Coast port of Sabine Pass.
The announcement comes as the two companies and the rest of the natural gas industry eagerly await permission from the U.S. government to begin exporting natural gas, which is cooled and liquefied before being shipped overseas.
(Excerpt) Read more at bizbeatblog.dallasnews.com ...
Good the folks who own/sell NG, but the US consumers will face higher prices as they will now face bidders from overseas.
Wonder if this will suffer the same fate as the Keystone pipeline?
Actually Russia signed a similar deal last year with Israel. They’ve also signed distribution deals with China, Japan, and other Asian nations to supply them with Israeli LNG. Now they are trying to close a deal to supply Europe with LNG from Israels Leviathan gas field.
All the more reason we need to fast track our own LNG exports
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