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Posting ID: 3679360341Posted: 2013-03-13, 2:41PM PDTEdited: 2013-03-13, 2:41PM PDTemail to a friendSorry, I could not read the content fromt this page.
Monday, August 19, 2013
Freeport LNG seeking financing for $11 billion Texas facility
A liquefied natural gas tanker arrives in Houston in 2008, shortly after the Freeport LNG terminal began operations. (Steve Campbell / Houston Chronicle)Freeport LNG Development LP is seeking financing to start construction next year on an $11 billion natural-gas export facility in Texas that in six years is scheduled to ship 2.1 billion cubic feet of gas a day.
Funds will be sought for the first two units that will cost about $7.5 billion, Michael Smith, Freeport’s chief executive officer, said in an interview in Houston yesterday. The company will also seek $1 billion to help retire debt that’s on top of the $11 billion project costs, he said. Financing will be sought for a third unit, or train, in 2014, for the balance of the costs, he said.
One train a year is expected to open in 2017, 2018 and 2019, Smith said. He said financing will have equity and debt components. Last month, the U.S. Energy Department conditionally authorized exports from part of Freeport’s project, saying they likely would yield net economic benefits.
Increased output from shale formations in North America has led to proposals for about 30 billion cubic feet of daily U.S. gas export capacity. Cheniere Energy Inc. (LNG) has the first project in the lower-48 states to gain full approval for exports of liquefied natural gas, or LNG.
The Energy Department’s Freeport approval covers 1.4 billion cubic feet a day of capacity. The company is seeking approval for another 1.4 billion cubic feet a day for a planned third train and a possible fourth unit the company may consider in the future.
Approving Projects
Smith said the U.S. should approve all of the pending applications and let the market decide which projects succeed. By the end of 2022, the lower-48 states may see as many as six LNG export projects built totaling perhaps 6 billion to 10 billion cubic feet a day, he said.
“They should all be approved because the government shouldn’t be picking winners and losers, but the market isn’t deep enough for more than four, five or six of these facilities,” Smith said.
Freeport still must gain approval from the Federal Energy Regulatory Commission, which Smith said may occur early next year.
Freeport has agreements with Osaka Gas Co., Chubu Electric Power Co. and BP Plc (BP/) for use of the planned export facility. Freeport may announce customers for the third train later this year, Smith said.
Receptionist Needed (Gymnastics School Monrovia & Pasadena)
Posting ID: 3679409330Posted: 2013-03-13, 3:07PM PDTEdited: 2013-03-13, 3:07PM PDTemail to a friendSorry, I could not read the content fromt this page.
Drillers, Derricks, Motors, Floors - Horizontal Well Drillers - Purcell, OK
Job Details
Horizontal Well Drillers
seeking to hire:
Drillers $27, Derricks $24,
Motors $23 and Floors $22
12 hour days with overtime paid,
working 14 days on- 14 days off
and during rig moves. $75 a day
per diem. Must have 2 yrs exp.
INS after 90 days. 1 wk vac after
1 year.
www.hwdrillers.com
2915 State Hwy 74 S
Purcell, OK 73080
405-527-1232
PennEnergyJobs - 4 days ago - save job - block Horizontal Well Drillers (HWD) is a major provider in contract drilling services. We offer our customers up-to-date drill rigs with innovati...
Horizontal Well Drillers
seeking to hire:
Drillers $27, Derricks $24,
Motors $23 and Floors $22
12 hour days with overtime paid,
working 14 days on- 14 days off
and during rig moves. $75 a day
per diem. Must have 2 yrs exp.
INS after 90 days. 1 wk vac after
1 year.
www.hwdrillers.com
2915 State Hwy 74 S
Purcell, OK 73080
405-527-1232
PennEnergyJobs - 4 days ago - save job - block Horizontal Well Drillers (HWD) is a major provider in contract drilling services. We offer our customers up-to-date drill rigs with innovati...
Apriori Beauty Consultant (Los Angeles, CA)
O.P.N. - Every product is developed with only Organic, Performance and Natural ingredients that product results.
If you are interested in becoming a Apriori Beauty Consultant, please contact me at 415-336-6539 or visit my website: www.useloveshare.com/IC/lillian_aaronson Posting ID: 3678661277
Posted: 2013-03-13, 9:50AM PDTEdited: 2013-03-13, 9:50AM PDTemail to a friendOil price rises above $96 as Fed fears fade
An oil pump works in the Persian Gulf desert oil fields of Sakhir, Bahrain. (AP Photo/Hasan Jamali, File)BANGKOK — The price of oil rose Thursday on expectations the Federal Reserve’s monetary stimulus campaign will stay in place despite a vow to begin scaling it back.
The official estimate of U.S. economic growth was Wednesday lowered to an annual rate of 1.8 percent for the January-March quarter, sharply down from a previous estimate of 2.4 percent. That raised hopes that the U.S. Federal Reserve will keep in place its bond buying program, which has been a boon to stock and commodity markets by lowering interest rates and weakening the dollar.
The Fed has said its $85 billion a month of government bond purchases could be scaled back starting later this year if the economy keeps improving.
Benchmark oil for August delivery was up 55 cents to $96.05 a barrel at late afternoon Bangkok time in electronic trading on the New York Mercantile Exchange. The contract rose 18 cents Wednesday to close at $95.50 per barrel.
Analysts said confidence indicators in Europe as well as speeches by Fed officials expected later in the day would provide further encouragement to markets.
“We expect more soothing comments from Fed speakers while Eurozone data will point to gradual improvement,” Anthony Lam of Credit Agricole CIB in Hong Kong said in a commentary.
Brent crude, which is used to set prices for oil used by many U.S. refineries to make gasoline, rose 57 cents to $102.24 a barrel.
In other energy futures trading on the Nymex:
— Natural gas fell 1.2 cents to $3.725 per 1,000 cubic feet.
— Heating oil rose 1.3 cents to $2.869 a gallon.
— Wholesale gasoline rose 0.6 cent to $2.723 a gallon.
Office Manager/Treatment Coordinator (Glendale, La Crescenta, CA/ Santa Clarita, CA)
Posting ID: 3679440923Posted: 2013-03-13, 3:23PM PDTEdited: 2013-03-13, 3:23PM PDTemail to a friendSorry, I could not read the content fromt this page.
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