Obama adminstration approves LNG exports from third terminal

Discussion in 'Too Hot for Swamp Gas' started by leogator, Aug 7, 2013.

  1. leogator
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    leogator Well-Known Member

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    Aug 7 (Reuters) - The Obama administration on Wednesday approved natural gas exports from a third U.S. facility, as the government moves to tackle a backlog of projects seeking permission to send gas abroad.

    Backed by BG Group Plc and Energy Transfer Partners LP's Southern Union Co, the export terminal in Lake Charles, Louisiana, secured the conditional license to ship liquefied natural gas to all countries nearly three months after the Energy Department gave Freeport LNG's Quintana Island, Texas, terminal the greenlight.

    http://www.reuters.com/article/2013...News&feedType=RSS&feedName=companyNews&rpc=43

    Enjoy cheap natural gas while you can, for the price shall be going up.
  2. G8trGr8t
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    G8trGr8t Premium Member

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    not really. it takes $7 or so to chill it into liquids, then they have to pay for transport and regassify which adds another $3 - $5. EU is paying $16. 16 - 7 - 4 = 5. US currently paying around $3.5 so do not see big move up. pipeline being permitted for export to Mexico without having to chill or pay big transport costs will consume more nat gas than all 3 export facilities combined but when gas gets to $4 - $4.5 there are a lot of wells that can/will be turned on and decades worth of drilling yet to be done. Coal being taken out of power generation will raise nat gas price more than all exports combined. before 0 and Jarrett declaring CO2 something that EPA can regulate, coal electric was cheaper when nat gas went north of $4.

    fwiw, historical value of nat gas has been 1/6 of oil and that would have us paying the same as Europe.

    Cheap nat gas energy is only thing that has kept this country out of a recession and it has happened in spite of that clown in office
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  3. Gatorrick22
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    Gatorrick22 Well-Known Member

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    Solid post. Will we ever build another coal gasification power plant again?

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