El Paso Unit Asks US Energy Department For LNG Export Authorization
18 Maggio 2012 - 11:41PM
Dow Jones News
A subsidiary of El Paso Corp. (EP) has requested U.S. Department
of Energy's blessing to export liquefied natural gas from a
terminal off the coast of Georgia.
In a letter filed Tuesday, Southern LNG Company LLC said it
sought the authorization to export up to half a billion cubic feet
per day from its LNG terminal in Savannah, Ga., to any country that
has a free-trade agreement with the U.S.
Southern also intends to file a separate request to send LNG to
countries that don't have a free-trade agreement with the U.S.
The move, which follows similar requests by other owners of LNG
terminals across the U.S., underscores the dramatic shift that
natural gas shale production has created in the country's energy
market. LNG terminals were built at great cost during the last
decade when investors thought the U.S. would suffer a natural gas
shortage, but the abundance of gas unleashed by hydraulic
fracturing has rendered them mostly idle. The Energy Dept. has
already authorized Cheniere Energy Inc. (LNG) to export LNG from
its terminal in Sabine Pass, La. Its first LNG exports are expected
towards the middle of this decade.
Natural gas producers in the U.S. hope that LNG exports will
create new markets for their commodity, which has recently seen
decade-low price levels due to its abundance.
-By Angel Gonzalez, Dow Jones Newswires; 713-547-9214;
angel.gonzalez@dowjones.com
Grafico Azioni El Paso (NYSE:EP)
Storico
Da Ago 2024 a Set 2024
Grafico Azioni El Paso (NYSE:EP)
Storico
Da Set 2023 a Set 2024