The Federal Energy Regulatory Commission staff said it will prepare an environmental impact statement (EIS) for the proposed Golden Pass LNG Terminal and Pipeline Project, owned by ExxonMobil. The proposed facilities would consist of a liquefied natural gas (LNG) import terminal and interconnecting pipelines near Sabine Pass, TX, 10 miles south of Port Arthur; with a 1 Bcf/d capacity, expandable to 2 Bcf/d, targeted for late 2008. ExxonMobil and Qatar Petroleum have signed an agreement to supply 15.6 million tons a year of LNG (2 Bcf/d) to the United States from Qatar for 25 years. The proposed project joined the FERC pre-filing process in November 2003. The proposed facility mirrors another ExxonMobil proposal, the Vista del Sol project on the Texas coast near Corpus Christi, which entered the pre-filing process at FERC in January of this year (see Daily GPI, Nov. 21, 2003). The Commission’s notice earlier this week follows on a notice of environmental review and scoping issued by FERC in January. It offers a final opportunity for parties, including other government agencies to submit comments on the project’s environmental impact.
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Analyst Olson Sees Golden Age for Producers
The 10-year outlook for domestic gas and oil production companies is “probably about the strongest of any industry,” according to Sanders Morris Harris analyst John Olson. Wellhead revenues over this decade are expected to be near double that of the 1990s. There’s no shortage of conventional drilling opportunities. And investors are recognizing the value inherent in the industry.
Analyst Olson Sees Golden Age for Producers
The 10-year outlook for domestic gas and oil production companies is “probably about the strongest of any industry,” said Sanders Morris Harris analyst John Olson. Wellhead revenues over this decade are expected to be near double that of the 1990s. There’s no shortage of conventional drilling opportunities. And investors are recognizing the value inherent in the industry.
ExxonMobil Launches LNG Import Project at Sabine Pass, TX
Exxon Mobil Corp. affiliate Golden Pass LNG Terminal LP has started the permitting process at FERC on a proposed $600 million LNG import terminal that would be located near Sabine Pass, TX, about 10 miles south of Port Arthur and not that far from another LNG import terminal being proposed by Cheniere Energy.