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10 26, 2012 by MarketWire
Researched by Industrial Info Resources (Sugar Land, Texas) -- The production of natural gas from shale formations throughout the U.S. has been nothing short of a game changer. Natural gas is being produced from the U.S. in record amounts, reserves are at an all-time high, and prices are at historic lows.
A decade ago, when the United States' natural gas needs far exceeded domestic supply, facilities for the import of liquefied natural gas (LNG) were constructed, where imported LNG would be regasified and shipped across the country. With the current surplus of domestically produced natural gas, plans are now on the table to convert these now unnecessary import terminals into LNG liquefaction and export facilities.
In April this year, Cheniere Energy Incorporated LNG +1.39% and its limited partnership, Cheniere Energy Partners LP CQP +1.12% , were given the go-ahead by federal regulatory agencies to convert their existing Sabine Pass import terminal in Cameron Parish, Louisiana, into an export facility. Site preparation has begun, although earlier this month the Department of Energy said that Sierra Club's objections to the project warranted further consideration, and Congress has asked for studies regarding the implications of LNG exports.
In addition to Cheniere's Sabine Pass project, Industrial Info is tracking three LNG export projects worth approximately $11.45 billion that are planned in Texas and Louisiana, should regulatory permission be granted. These include Sempra LNG's liquefaction plant, located near Cheniere's facility in Louisiana, and two facilities in Texas, one of which would be owned by Cheniere.
At our upcoming exclusive market outlook and networking event, held November 7 at the White Oak Plantation in Baton Rouge, Louisiana, Industrial Info will be discussing Oil & Gas Production projects, as well as other industrial trends in the U.S. and Canada, with special emphasis on the Gulf Coast and Southwest market regions. Industries covered will include:
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