Excelerate to build first floating U.S. LNG export plant

[Eugene]

Source: Reuters

Excelerate to build first floating U.S. LNG export plant

By Edward McAllister

NEW YORK | Tue May 15, 2012 12:05pm EDT

(Reuters) - Excelerate Energy, the U.S. liquefied natural gas company founded by Oklahoma billionaire George Kaiser, said on Tuesday it will develop the country's first floating LNG export plant off the Gulf Coast, joining a queue of projects awaiting government approval to ship out surplus gas.

The Lavaca Bay LNG project off Texas, expected to start exporting by 2017, would initially have the capacity to ship 3 million to 4 million metric tons per year (mtpa) of LNG, Excelerate said in a statement. It could be expanded to 8 mtpa, or about 1 percent of daily U.S. supply.

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The Obama administration said on Monday that it does not oppose LNG export, though it will depend on an official analysis to guide its decision on whether to allow more gas projects to proceed. Only Cheniere Energy has so far been granted license to sell gas to major buyers, like China, which do not have free trade pacts with the United States.

The plans, if all were approved, could together export about 16 percent of U.S. daily production, raising concern from consumer groups and politicians about the effect that exporting might have on domestic prices.

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Read more: http://www.reuters.com/article/2012/05/15/us-excelerateenergy-idUSBRE84E0WO20120515

[NickB79]

1. And with that, our bad-as-coal fracked gas will be unleashed upon the world

With cheap export potential for US natural gas, fracking will boom even more than it already has, and the destruction of our biosphere will be locked in.

Go tool monkeys!

[Nihil]

2. Sad but true - every word of it. (n/t)

[Kolesar]

3. A hurricane would be very bad for a floating terminal

It is not discussed in the article.

[NickB79]

4. Oh, what are the odds a hurricane would hit Texas? Stop being such a nervous Nancy

And embrace the frack!