Gulf LNG Liquefaction Co. LLC has been cleared to enter the Federal Energy Regulatory Commission pre-filing process for the proposed addition of natural gas liquefaction and export capability at its existing liquefied natural gas (LNG) import facility in the Port of Pascagoula in Jackson County, MS. The project would also include terminal and pipeline modifications to allow for bidirectional flow of gas to and from the facility. Up to 10.5 million tons/year of LNG would be produced from up to 1.5 Bcf/d of gas. Gulf LNG told FERC it intends to file its application for the project in April 2015. Kinder Morgan Inc. is operator of the terminal and backer of the project along with GE Energy Financial Services. According to Kinder Morgan, a final investment decision on the project is expected during 4Q2016 with the first train potentially operating in late 2019.
U.S. District Court JudgeKeith Ellison of the Southern District based in Houston has approved one class action lawsuit by a group of BP plc investors led by the Ohio Public Employees' Retirement System and New York State Comptroller Thomas DiNapoli, who oversees the state's Common Retirement Fund. The groups have accused BP of misleading them on the severity of the Macondo well blowout in April 2010 (In re: BP plc Securities Litigation, U.S. District Court, Southern District of Texas, No. 10-md-02185). Investors that bought BP American depository shares from April 26-May 28, 2010 may pursue claims that BP executives’ public statements "did not reflect the magnitude of the disaster facing the company." A second group of shareholders was denied class certification regarding claims that BP had overstated its ability to manage safety issues prior to the explosion because it would be too difficult to calculate class-wide damages. Ellison in 2013 found there was reason to proceed with a similar lawsuit against Macondo partner Anadarko Petroleum Corp. (25%) because of a statement made in May 2010 by Senior Vice President Robert Daniels (see Daily GPI, July 17, 2013).