Cheniere Energy Updates Status of Freeport LNG Project.Energy Editors/Business Editors HOUSTON--(BUSINESS WIRE)--Nov. 10, 2003 Cheniere Energy Inc. (AMEX AMEX See: American Stock Exchange :LNG LNG (liquefied natural gas): see under natural gas. ) announced that the Federal Energy Regulatory Commission The Federal Energy Regulatory Commission (FERC) is the United States federal agency with jurisdiction over electricity sales, wholesale electric rates, hydroelectric licensing, natural gas pricing, and oil pipeline rates. (FERC FERC Federal Energy Regulatory Commission FERC FEMA Emergency Response Capability ) has concluded in a draft Environmental Impact Statement (EIS) that the approval of its affiliate's, Freeport LNG Development, L.P. (Freeport LNG), proposed liquefied natural gas liquefied natural gas: see under natural gas. Liquefied natural gas (LNG) A product of natural gas which consists primarily of methane. Its properties are those of liquid methane, slightly modified by minor constituents. (LNG) import terminal facilities, with the adoption of recommended mitigation measures, would have limited adverse environmental impact and would be an environmentally acceptable action. Freeport LNG expects to receive a final EIS and final FERC approval for its application to build a 1.5 Bcf per day LNG receiving terminal near Freeport, Texas, in early 2004. Cheniere owns a 30% limited partner interest in Freeport LNG. The EIS provides for comment period which runs through Dec. 29, 2003. FERC will conduct a public scoping meeting to give interested parties an opportunity to comment on the draft EIS. The scoping meeting will be held on Dec. 9, 2003. Cheniere Energy Inc. is a Houston-based developer of LNG receiving terminals and a Gulf of Mexico Noun 1. Gulf of Mexico - an arm of the Atlantic to the south of the United States and to the east of Mexico Golfo de Mexico Atlantic, Atlantic Ocean - the 2nd largest ocean; separates North and South America on the west from Europe and Africa on the east E&P company. Cheniere is a 30% limited partner in Freeport LNG Development, L.P., which is developing an LNG receiving terminal in Freeport, Texas. Cheniere is also developing two additional Gulf Coast LNG receiving terminals in Corpus Christi, Texas Corpus Christi is a coastal city and the county seat of Nueces CountyGR6 in the U.S. state of Texas. It is part of the region known as South Texas. , and Sabine Pass, La. Cheniere conducts exploration for oil and gas in the Gulf using a regional database of 7,000 square miles of PSTM PSTM Pre-Stack Time Migration (seismic processing) PSTM Photon Scanning Tunneling Microscopy 3D seismic data. Cheniere owns 9% of Gryphon Exploration Company, along with Warburg, Pincus Equity Partners, L.P. which owns 91% after an investment of $85,000,000. Gryphon conducts exploration in the Gulf using a regional database of 20,000 square miles of PSTM 3D seismic data. Additional information on the company may be found on its Web site at www.cheniere.com, by contacting the company's investor and media relations department toll-free at 888-948-2036 or by writing to: LNG@MDCGroup.com. Except for the historical statements contained herein, this news release presents forward-looking statements that involve risks and uncertainties. Although the company believes that the expectations reflected in such forward-looking statements are based upon reasonable assumptions, it can give no assurance that its expectations will be achieved. Certain risks and uncertainties inherent in the company's business are set forth in the company's periodic reports that are filed with and available from the Securities and Exchange Commission. |
|
||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion