• 5 minutes China Faces Economic Collapse
  • 8 minutes ZeroHedge: Oil And Gas Bankruptcies To Accelerate As $137 Billion Debt Matures Over Next Two Years
  • 11 minutes Trump Will Win In 2020
  • 14 minutes Oil Production Growth In U.S. Grinds To A Halt
  • 3 hours The Belt & Road Initiative: A Wolf in Sheep's Clothing?
  • 1 hour Drone attacks cause fire at two Saudi Aramco facilities, blaze now under control
  • 8 hours How OPEC and OECD play their role in setting oil price in light of Iranian oil sanction ?? Does the world agree with Iran's oil sanctions ???
  • 5 hours Cost of oil
  • 36 mins Democrats and Gun Views
  • 15 hours Swedish Behavioral Scientist Suggests Eating Humans to ‘Save the Planet’ from Climate Change. What could possibly go wrong?
  • 15 hours Trump Orders Biofuel Boost
  • 10 hours Iran says tanker oil sold at sea, buyer sets destination
  • 46 mins US and China are already in a full economic war and this battle for global hegemony is a little bit frightening
  • 19 hours Used Thin Film Solar Panels at 15 Cents per Watt
  • 18 hours Green New Deal Preview in Texas Town
  • 16 hours “Who’s going to bail out the Central Banks?”
  • 28 mins Iran in the world market

Driftwood Looks To Build A Nat Gas Terminal In Louisiana

Natural Gas Storage

Driftwood LNG plans to become the seventh company to build a natural gas terminal in the southwestern area of Louisiana, the Associated Press reported over the weekend.

The $8 billion project by Houston-based Tellurian Investments would be built on an 800-acre site located at Calcasieu Parish and on the west bank of the Calcasieu River. The Lake Charles Port Board has allegedly agreed to lease 477 acres of that site to Driftwood.

Of all the other LNG applicants in the area, only Cheniere Energy’s terminal at Sabine Pass is operational.

Driftwood, which was founded by former Cheniere CEO Charif Souki, last month filed a request with the Federal Energy Regulatory Commission (FERC) to commence an environmental review process for the project. The company anticipated producing and exporting 26 million tonnes per year of liquefied natural gas (LNG) at the planned facility.

Related: Russia-German Pipeline May Break Europe’s Energy Union

Driftwood also hopes to construct a 96-mile pipeline connected to the facility that would cross the Evangeline, Allen and Calcasieu parishes.

Earlier this month, natural gas futures jumped by six percent after supply gains fell below that anticipated by investors. Despite a 1.5 percent drop in gas output in the mainland U.S., at least 36.89 billion cubic feet of LNG was exported from Cheniere’s Louisiana terminal since February 2016.

By Erwin Cifuentes for Oilprice.com

More Top Reads From Oilprice.com:



Join the discussion | Back to homepage

Leave a comment

Leave a comment

Oilprice - The No. 1 Source for Oil & Energy News
Download on the App Store Get it on Google Play