Bleeding the oversupply of NG"Energy Department approves first-ever liquid natural gas exports from Louisiana
By Associated Press, Updated: Friday, May 20, 1:17 PM
NEW ORLEANS — The Energy Department has cleared the way for a terminal in southwestern Louisiana to export a portion of the U.S.’s burgeoning supply of natural gas.
The terminal was originally built to import natural gas during shortages, before supplies skyrocketed because of vast discoveries in shale rock formations.
The Energy Department said this marks the first time an exporter has been allowed to send natural gas from the lower 48 states as LNG to all U.S. trading partners.
Houston-based Chenerie Energy Partners LP said Friday it will be allowed to export up to 803 billion cubic feet of gas annually from its Sabine Pass LNG terminal. The gas will be transported on tankers after being chilled bysuper-low temperatures to liquefied natural gas.
Exports are expected to begin in 2015.
Copyright2011 The Associated Press."
https://www.washingtonpost.com/business/energy-department-approves-first-ever-liquid-natural-gas-exports-from-louisiana/2011/05/20/AFUrlx7G_story.html