18th Dec 2015 07:25
LONDON (Alliance News) - BG Group PLC said Friday its Lake Charles liquefied natural gas export project has been approved by the US Federal Energy Regulatory Commission.
This was the key remaining regulatory consent for the project to construct and operate a natural gas liquefaction and export facility in Lake Charles, Louisiana, in development with Energy Transfer Equity LP and Energy Transfer Partners LP.
The project already has conditional authorisation from the US Department of Energy to export up to 2 billion cubic feet of natural gas a day, or around 15 million metric tonnes per year.
BG said that both it and Energy Transfer's final investment decisions are expected to be made in 2016, with construction to start immediately following a positive decision, and first exports expected about four years later.
"We are pleased to receive the approval from FERC, an important milestone as we progress the Lake Charles project towards a final investment decision. By utilising a brownfield site, and the ready supply of gas from the US grid, Lake Charles LNG offers one of the largest and most competitive new LNG supply options in the marketplace," said Chief Executive of BG Helge Lund in a statement.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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