The Gulf LNG Liquefaction Project proposed by Kinder Morgan and minority partners officially filed Friday for federal approval to add exporting capabilities to an existing liquefied natural gas terminal.
Kinder Morgan is seeking Federal Energy Regulatory Commission to build the $8 billion LNG export project near Pascagoula, Mississippi. The applicants are asking for FERC approval no later than June 17, 2016.
There are currently five LNG export projects currently under construction in the U.S., including ones owned in Texas and Louisiana by Houston-based Cheniere Energy and Freeport LNG Development.
The Gulf LNG Liquefaction Project would capitalize on Kinder Morgan’s existing pipeline and terminal infrastructure. The goal is to begin operations by the end of 2020 and export LNG to other parts of the world, including Asia.Back on May1, 2015, RBN Energy posted a story on the future of US LNG exports to Asia. Although most of that article has been archived for subscribers only, the "Asian LNG Growth Graph" is still there. The tea leaves suggest that North America will be the global supplier of LNG in 2030 and growth will continue between then and now.
Also from that post, Saudi Arabia burning through cash:
From The Financial Times:That certainly explains why Saudi Arabia canceled that $109 billion solar energy program for desalination and domestic energy.
Saudi Arabia is burning through its foreign reserves at a record rate as the kingdom seeks to maintain spending plans despite lower oil prices. The central bank’s foreign reserves have dropped by $36bn, or 5 per cent, over the past two months, as newly crowned King Salman bin Abdulaziz al-Saud dips into Riyadh’s rainy-day fund and increases domestic borrowing to fund public sector salaries and large development projects.
The latest data show Saudi’s foreign reserves dropped by $16bn to $708bn in March, driven by public sector bonuses paid by King Salman after he assumed power in January. This follows a fall of $20bn in February. Saudi Arabia has spent $47bn of foreign reserves since October. The king this week reshuffled his royal court, replacing Crown Prince Muqrin, one-time heir to the throne, as he seeks to shore up his power base and promote a younger generation of princes, including his son and nephew.