Cheniere Energy to build new LNG receiving terminal
Dec 12, 2001 12:00 PM
Cheniere Energy Inc, Houston, Texas, has announced that it has acquired an option to purchase a third land site near Sabine Pass, Texas, for the purpose of building an liquefied natural gas (LNG) receiving terminal.
Cheniere had previously announced the acquisition of options for sites with port authorities at Freeport and Brownsville, Texas. "All the work we have done continues to support our conclusion that Texas is well situated to develop LNG receiving terminals because of its extensive infrastructure for transportation and the large industrial demand in the state," said Charles Reimer, president and chief executive officer of Cheniere. "We have been in contact with several users of gas and potential LNG suppliers and have signed memoranda of understanding for the offtake of 350 mmcf per day from our Freeport location. We believe that LNG will become a critical component of supply of gas within the current decade."
Cheniere Energy is a Houston-based energy company. It owns 20
percent of Gryphon Exploration Company, with Warburg, Pincus Equity
Partners, LP owning the other 80 percent. Cheniere conducts
exploration in the Gulf of Mexico using a regional database of 7,000
square miles of 3D seismic data. It also owns options on three sites
for the development of LNG receiving terminals along the Texas gulf