Tuesday, 19 July 2011 12:01
Jindal, Moret: Cheniere To Build 6B For LNG Plant In Louisiana
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JindalToday, Governor Bobby Jindal and Steve Moret made a blockbuster of an announcement.  They joined Cheniere Energy Chairman and CEO Charif Souki to announce that one of the first natural gas liquefaction facilities in North America will be constructed at Cheniere’s Sabine Pass terminal in Cameron Parish. Cheniere will invest $6 billion to expand its existing facility, which will be one of the largest capital investments in Louisiana history.  

Cheniere Energy Inc. (NYSE Amex Equities: LNG) is a Houston-based energy company primarily engaged in LNG-related businesses. 

 According to the governor's office, the new project will create 148 new jobs and retain 77 existing jobs, with a total compensation and benefits package that will exceed an average of $100,000 a year. The new jobs will support another 589 indirect jobs in the area and 3,000 construction jobs will be created by the project at the peak of construction activity. Cheniere will build its new facility near the Louisiana-Texas border in Cameron Parish to handle the shipment of liquefied natural gas (LNG) from the company’s international LNG terminal.


Gov. Jindal said, “Cheniere Energy’s construction of one the country’s first liquefaction facilities at the Sabine Pass terminal in Cameron Parish is a huge win for our state. This multi-billion dollar investment will be one of the largest capital investments in the history of Louisiana, and build on our incredible record of job creation projects all across the state. Cheniere’s facility will grow our economy, increase natural gas production and become a major exchange in continuing to meet the demand for energy around the world.”

 Cheniere is expected to utilize the Quality Jobs and Louisiana FastStartTM programs, as well as the Industrial Tax Exemption Program, to support the expansion project.

 “The construction of Cheniere’s Liquefaction Project in Cameron Parish will provide key support to Louisiana’s economy and natural gas industry, which has been transformed by the development of the Haynesville Shale,” said Charif Souki, Chairman and CEO of Cheniere. “In only two years, Louisiana’s natural gas production has doubled as the Haynesville has grown into one of the most prolific shale plays in the world. Our Liquefaction Project will provide thousands of jobs in Southwest Louisiana while connecting the state’s natural gas industry to global markets, making Louisiana the world’s first dual importer and supplier of LNG. We greatly appreciate the support that Cheniere has received from the State of Louisiana and the people of Cameron Parish, who have demonstrated a strong commitment to our Sabine Pass LNG terminal.”

 

Cheniere Energy anticipates beginning construction of the facility in early 2012. Hiring of the new permanent jobs will begin in 2014 and the facility will commence operations in 2015. The final phase of the project is expected by the end of 2018.Adding liquefaction capabilities will transform the Sabine Pass terminal into a bi-directional facility capable of exporting LNG in addition to receiving LNG for regasification.

 

LED Secretary Stephen Moret said, “This project is a terrific example of the tremendous secondary economic benefits associated with the Haynesville Shale and other unconventional natural gas plays in our country. We expect to see even more massive capital investment projects associated with the Haynesville Shale announced in Louisiana over the next few years. The economic benefits of historically low, stable natural gas prices in Louisiana have only begun to be realized.”

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