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Gold/Mining/Energy : LNG -- Ignore unavailable to you. Want to Upgrade?

To: Dennis Roth who wrote (74)	6/24/2004 4:15:10 AM
From: Dennis Roth	Respond to of 919

Matrix Service Company Confirms Cheniere Energy's Selection of LNG Tank Provider biz.yahoo.com Wednesday June 23, 6:15 pm ET TULSA, Okla., June 23 /PRNewswire-FirstCall/ -- Matrix Service Co. (Nasdaq: MTRX - News), a leading industrial services company, today confirmed the Cheniere Energy, Inc. (Amex: LNG - News) announcement that Matrix Service, in collaboration with Mitsubishi Heavy Industries, Ltd., have been selected as the Liquefied Natural Gas (LNG) tank provider for Cheniere Energy's Corpus Christi, Texas and Sabine Pass, Louisiana projects. The work will entail engineering and construction of three 160,000 cubic meter single containment storage tanks at each site. Final negotiations with MHI/Matrix are expected to be complete in the next few weeks. Construction of the LNG receiving terminals is expected to start during the first quarter of calendar 2005, subject to receipt of construction permits by the end of 2004. Cheniere filed applications with the Federal Energy Regulatory Commission on December 22, 2003, for permits to site, construct and operate LNG receiving terminals near Sabine Pass, Louisiana and Corpus Christi, Texas. Each facility is designed to have an initial natural gas processing capacity of 2.6 billion cubic feet per day (Bcf/d). Brad Vetal, President and CEO of Matrix Service and Shigeharu Matsuura, Managing Director and Representative Director of Mitsubishi Heavy Industries, said, "Matrix Service and Mitsubishi Heavy Industries, Ltd., are very excited to be working with Cheniere Energy on the LNG receiving terminal projects in Sabine Pass, Louisiana and in Corpus Christi, Texas. We have been impressed with Cheniere's professionalism and ability to expedite the development of three LNG terminal projects in the Gulf Coast. Our team is very confident and will dedicate the resources required to make the projects in Sabine Pass and Corpus Christi a success for Cheniere Energy." About Matrix Service Company Matrix Service Company provides general industrial construction and repair and maintenance services principally to the petroleum, petrochemical, power, bulk storage terminal, pipeline and industrial gas industries. The Company is headquartered in Tulsa, Oklahoma, with regional operating facilities located in Oklahoma, Texas, California, Michigan, Pennsylvania, Illinois, Utah, South Carolina, Washington, and Delaware in the U.S. and Canada. [snip]