Terminal

Following its move earlier this month to abandon plans to build an offshore liquefied natural gas (LNG) receiving terminal off North Baja, Chevron Corp. is actively pursuing existing and new sites on all three coasts of North America, a Houston-based spokesperson told NGI late Tuesday. Chevron is not saying how much it spent on the more than three-year-old Coronado Islands venture that had received a permit to build from Mexican authorities.

Cheniere Energy Partners LP, a limited partnership formed by Cheniere Energy Inc. to develop, own and operate the Sabine Pass LNG [liquefied natural gas] receiving terminal currently under construction in western Cameron Parish, LA (see Daily GPI, July 21, 2006), is being spun off as an initial public offering (IPO). Cheniere Energy Partners will be listed on the American Stock Exchange under the symbol “CQP.” The IPO of 12.5 million common units represents 7.6% interest in Cheniere Energy Partners. Of the units being offered, 5.2 million will be offered by Cheniere Energy Partners; the other 7.3 million will be offered by Cheniere LNG Holdings LLC. Citigroup Global Markets Inc., Merrill Lynch, Pierce, Fenner & Smith Inc. and Credit Suisse Securities (USA) LLC will act as joint book-running managers. RBC Capital Markets Corp., Sanders Morris Harris Inc., Stifel, Nicolaus & Co. Inc., Howard Weil Inc., Pritchard Capital Partners LLC and FIG Partners LLC Energy Capital Group will act as co-managers.

A $5 billion integrated liquefied natural gas (LNG) import terminal, petrochemical complex and gas-fired cogeneration power plant in Goldboro, NS, received a favorable preliminary environmental review with a number of conditions last week. The Maple LNG project, formerly named Keltic LNG, which is sponsored by Netherlands-based Petroplus International and Russia’s Suntera Canada Ltd., would provide 1 Bcf/d of gas to the power plant and petrochemical complex being built by Keltic Petrochemicals.

Organized opposition to a coastal liquefied natural gas (LNG) terminal in California, along with critical environmental organizations and utilities, Friday raised the spectre of challenging at least part of the sweeping new state natural gas rules approved by the California Public Utilities Commission (see Daily GPI, Sept. 22). At least one group threatened to file a lawsuit in state Superior Court Monday.

The state of Massachusetts has issued its own draft environmental impact report (DEIR) on the proposed Northeast Gateway LNG deepwater receiving terminal in Massachusetts Bay several months after a combined federal draft environmental impact statement was issued by the U.S. Maritime Administration, the Coast Guard and FERC.(see NGI, May 29).

The state of Massachusetts has issued its own draft environmental impact report (DEIR) on the proposed Northeast Gateway LNG deepwater receiving terminal in Massachusetts Bay several months after a combined federal draft environmental impact statement was issued by the U.S. Maritime Administration, the Coast Guard and FERC.(see Daily GPI, May 23).

Aging infrastructure, growing demand for gas and other commodities and liquefied natural gas (LNG) terminal development all mean that changes are under way in the midstream energy sector, according to Standard & Poor’s Ratings Services.

Aging infrastructure, growing demand for gas and other commodities and liquefied natural gas (LNG) terminal development all mean that changes are under way in the midstream energy sector, according to Standard & Poor’s Ratings Services.

A dark horse in the race for siting a liquefied natural gas (LNG) terminal along the U.S. West Coast, NorthernStar Natural Gas, Inc., a U.S.-owned and managed privately held company created specifically to site LNG facilities, announced Monday it has completed a $100 million private offering of convertible notes to qualified institutional buyers.