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Gold/Mining/Energy : Big Dog's Boom Boom Room
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To: Bearcatbob who wrote (147193)3/27/2011 11:27:52 PM
From: richardred  Read Replies (2) of 206085
 
FWIW-A little bit of an update I saw.

snip>The Main Pass Energy Hub was of great interest to investors three years ago when MMR spent a lot of time and energy gaining approval to use an old offshore facility a predecessor company used years ago for sulfur production. The concept was to use Main Pass to import natural gas and use it as a receiving station for foreign LNG. Then natural gas prices collapsed in the U.S. even as oil has again surpassed $100 a barrel so the project was moved to the back burner. The facility was permitted for inbound LNG. But now with natural gas prices around the globe being much higher than those in the U.S., it might be interesting to hear at what point they might re-permit the facility for outbound shipments and what it would cost to do it. There are also empty salt domes under the facility that could be used for storage which was part of the earlier proposal. Recently Cheniere Energy has announced sales of LNG to the Dominican Republic from its Sabine Pass LNG Terminal from a facility of its own at Sabine Pass Louisiana, that was also put on hold by the market and the global economy. My guess is that MMR is watching with great interest how that plays out.
blogs.forbes.com
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