Posted on 08/08/2014 11:16:42 AM PDT by thackney
Sempra Energy, GDF Suez and other investors in the Cameron LNG project have made their final investment decision on the project and intend to move forward with it, the companies announced this week.
The facility will be located at Sempra Energy’s existing Cameron LNG import terminal in Hackberry, La. It is expected to cost around $10 billion.
“Today’s commitments from our project sponsors and international banks put us one step closer to delivering domestic natural gas to America’s trading partners in Europe and Japan,” Sempra LNG president Octavio M.C. Simoes said in a statement.
The facility will have three liquefaction plants, called trains, with total capacity of 1.7 billion cubic feet of natural gas per day. All three trains are slated to come online in 2018.
Cameron LNG received approval from the Federal Energy Regulatory Commission in June to build and operate the facility. It also has received preliminary approval from the U.S. Department of Energy to export LNG to countries that aren’t part of free trade agreements with the U.S.
Both approvals were key milestones necessary for the project to proceed.
Cameron LNG is one of six LNG projects in the U.S. that have received such approval from the Department of Energy, and one of three that have gotten the go-ahead from FERC. Cameron LNG investors expect final approval from the Energy Department later this year.
Hmmmm .. we can build export plants... essentially a pipe a ship backs up to and the valve is opened .... but we can’t refine our own oil ?
Why do you think we cannot?
But on the other hand, if we can import and refine cheaper heavy oil at $85/barrel and export our lighter oil at $100/barrel, why would we not?
We already spent the billions of dollars upgrading many refineries to process the heavy cheaper stuff.
By the way, it is a bit more complicated to liquefy natural gas. That is why the plant cost $10 billion.
Welll ... we CAN ... but if I understand correctly ... the permitting takes a hunnert years and the taxes and the paperwork ... (a little exaggerated ... but that’s MY understanding)
OK .. I am admittedly ignorant of a lot of the oil/energy business ... but I thought NG/LNG was a lot less complicated than refining oil
Do you understand we already refine more crude oil than we use ourselves? We do not have a refinery shortage.
We actually import more crude oil than we use ourselves and export the refined (higher price) products.
Less process steps is not the same as cheap. It is quite energy intensive to chill down to -260°F.
I think I'll sit back and learn from these threads rather than expose further my ignoramous-ness.
I'm sure not everyone else reading this did either.
Part of our gasoline challenges in this country are the multitude of recipes required around the nation. When a refinery is shut down, it is tougher to ship in the accepted blend from another location.
I think I'll sit back and learn from these threads rather than expose further my ignoramous-ness.
Hey, we all learn from discussions. We all have things others don't know. The energy stuff is just my profession along with my obsession.
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