Kinder morgan _ where are talks of an $8b investment in a jackson county lng plant_ _ 4-traders
Feb. Msn news usa homepage 05–Where is Gulf LNG — the two huge storage tanks and terminal that dominate the horizon southeast of Pascagoula — with its plans for an $8 billion revamp?
The plant was built for $1.1 billion six years ago to import super-chilled natural gas, store it, warm it from its liquid state back to a gas and distribute it around the nation.
So Gulf LNG, which is 50 percent owned by Kinder Morgan of Texas, sought federal permission four years ago to export to the lucrative Asian markets. British pound to usd exchange rate It is the cost of building this export capability that’s estimated at $8 billion, an investment Jackson County has touted as the biggest potential economic-development project in the state.
“It still could be the big new industry for the county,” Jackson County Economic Development Director George Freeland told the Sun Herald last week. Sprint troubleshooting “But I don’t know how strongly to express this: They are still a long way from a final investment decision.
Currency converter usd to pounds Kinder Morgan has not made a final decision to construct.”
Gulf LNG filed for broader export consideration with the Department of Energy in 2012 to allow it to export to non-Free Trade Agreement countries. Silver chart It has filed for a permit with the Federal Energy Regulatory Commission for the conversion. Silver chart kitco It is the oldest application still awaiting approval, according to FERC, and not very far along in the process.
Freeland describes the project as preliminary, “still very much in the development phase,” and there is at least one LNG in the Gulf region that is already approved, nearly through its conversion and only a year or two away from exporting.
About Pascagoula’s Gulf LNG, he said, “Right now, the business model has not been well defined and it lacks front-end engineering. Dollar exchange rate history It’s important that we manage expectations.”
Richard N. Gold price chart Wheatley, director of corporate communication with Kinder Morgan, however, pointed out the terminal is still very much in the federal permitting process.
A filing with FERC in January followed four others the company made last year in response to data requests from FERC as the company moves toward developing an Environmental Impact Statement, a basic part of the process.
It is sustained as an import terminal by two customers, one from Angola and one from Italy, that have 20-year contracts. Convert cny to usd They pay whether they send product or not. Futures market cnbc Gulf LNG, in turn, pays the Port of Pascagoula $1 million a year in rent, half of which goes to the state Tidelands fund.
The plant employs almost 50, including contract security staff, and has shifts around the clock. Binary search tree visualization State officials have touted it as a major part of Mississippi’s economic future, and it is considered an example of the state’s open-mindedness toward this type of industry.
Building it took three years and created hundreds of jobs. Gender identity issues It received a 10-year tax exemption, but pays hefty county, city and school taxes — $6.76 million in 2016.
The fact that it is not bringing in tankers put a damper on port expectations. Uk to us currency The port originally projected $3 million to $4 million a year in rent and cargo fees. 1 usd to ngn But it has since dropped such projections from the budget. Joy newsome However, just the two christening tankers the LNG served in June 2011 boosted the port’s third-quarter cargo tonnage that year by 27 percent over 2010.
It would be able to send out 11.5 million tons of liquefied natural gas per year, loaded onto vessels via the terminal’s marine jetty, all while retaining its ability to receive and store shipments as well.