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CORRECTED-Three new US LNG terminals expected to open in April

Wed Apr 16, 2008 11:35am EDT
 
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(Corrects April 11 story, reversing loading ports in paragraphs two and four)

NEW YORK, April 11 (Reuters) - Three new U.S. liquefied natural gas terminals, two on the Gulf Coast and one in the Northeast, are expected to receive their first deliveries in the next week, according to a Houston-based consulting firm.

Waterborne Energy, which monitors the global flow of liquefied gases, said the Sabine Pass terminal located in Louisiana near the Texas border, was expecting its inaugural delivery of super-cooled gas on April 12 on the vessel Celestine River, loaded in Nigeria.

Cheniere Energy (LNG.A: Quote, Profile, Research, Stock Buzz), parent of Sabine LNG, will own all of the terminal's 2.6 billion cubic feet per day of capacity until 2009, when Chevron (CVX.N: Quote, Profile, Research, Stock Buzz) and Total SA (TOTF.PA: Quote, Profile, Research, Stock Buzz) take 1 bcf each.

The Freeport LNG terminal located near Freeport, Texas, is expecting its first cargo aboard the tanker Excelsior from Trinidad on April 16.

Denver oilman Michael Smith, who owns 45 percent of the Freeport LNG terminal, is the managing partner, with Cheniere one of three minority stakeholders.

Conoco Phillips (COP.N: Quote, Profile, Research, Stock Buzz) has bought two-thirds of Freeport LNG's total capacity of 1.5 bcf, with the remaining third committed to Dow chemical (DOW.N: Quote, Profile, Research, Stock Buzz).

The launch of the two new terminals on the U.S. Gulf Coast will be the first onshore LNG ports opened in 25 years.

The long-awaited startup of Excelerate Energy's Northeast Gateway offshore terminal off the coast of Boston, Massachusetts, is also expected around April 16 aboard the tanker Excellence, loaded in Trinidad.  Continued...

 

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