Reserve

Following closely on the heels of Federal Reserve Chairman Alan Greenspan’s pro-LNG testimony before a House panel, Cheniere Energy Inc. said that it has closed the formation of its partnership with BPU LNG, an affiliate of Sherwin Alumina, to build an LNG receiving facility on a site adjacent to the Sherwin Alumina plant in Corpus Christi, TX. The partnership was first announced in mid-May (see NGI, May 19).

FERC Chairman Pat Wood said the testimony of Federal Reserve Chairman Alan Greenspan last week underscored the economic importance of abundant, reasonably-priced natural gas. He also noted that the industry is well on its way toward increasing imports of liquefied natural gas (LNG).

A group of western business leaders said Friday that it disagrees with Federal Reserve Chairman Alan Greenspan’s encouragement of increased foreign LNG shipments as a means of improving domestic gas supply. The Western Business Roundtable, which consists of CEOs and senior executives of corporations doing business in the Western United States, said the answer does not lie in foreign imports.

A group of western business leaders said Friday that it disagrees with Federal Reserve Chairman Alan Greenspan’s encouragement of increased foreign LNG shipments as a means of improving domestic gas supply. The Western Business Roundtable said the answer does not lie in foreign imports.

Following closely on the heels of Federal Reserve Chairman Alan Greenspan’s pro-LNG testimony before a House panel, Cheniere Energy Inc. said Friday that it has closed the formation of its partnership with BPU LNG, an affiliate of Sherwin Alumina, to build an LNG receiving facility on a site adjacent to the Sherwin Alumina plant in Corpus Christi, TX. The partnership was first announced in mid-May (see Daily GPI, May 16).

Coming one day after Federal Reserve Chairman Alan Greenspan warned Congress of the gravity of the U.S. natural gas supply shortfall, the Senate on Wednesday passed a bipartisan amendment as part of its broad energy bill that would require the secretary of the Department of Energy (DOE) to report to Capitol Hill on the gas market.

FERC Chairman Pat Wood said the testimony of Federal Reserve Chairman Alan Greenspan on Tuesday underscored the economic importance of abundant, reasonably-priced natural gas. He also noted that the industry is well on its way toward increasing imports of liquefied natural gas.

Federal Reserve Chairman Alan Greenspan undoubtedly will be the star at Tuesday’s House Energy and Commerce Committee fact-finding hearing that will explore the natural gas supply-demand imbalance situation. But his testimony will be preceded by eight leading executives in the gas industry, who are experts in their own right.

Federal Reserve Chairman Alan Greenspan will join producers and consumers this week in testifying on the increasingly critical natural gas supply situation before the House Energy and Commerce Committee.