FERC Approves Lake Charles LNG Project
The U.S. Federal Energy Regulatory Commission (FERC) has granted approval for the Lake Charles LNG export project, which will see the construction and operation of a natural gas liquefaction and export facility in Lake Charles, La.
With FERC approval, the Lake Charles LNG project has now received the key remaining regulatory consent, according to BG Group (BRGXF), who is developing the project with Energy Transfer Equity LP and Energy Transfer Partners, L.P.
The project has conditional authorization from the U.S. Department of Energy for the export of up to 2 billion cubic feet of natural gas per day or approximately 15 million metric tons of LNG per annum.
Energy Transfer owns an existing LNG regasification facility in Lake Charles, which will be converted to a liquefaction facility.
Final investment decisions from both BG Group and Energy Transfer are expected to be taken in 2016, with construction to start immediately following a positive decision and first LNG exports anticipated about four years later.
