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

To: Dennis Roth who wrote (537)	11/16/2005 7:21:05 AM
From: Dennis Roth	Read Replies (1) \| Respond to of 919

Exxon builds US terminal to receive gas from Qatar Published: Wednesday, 16 November, 2005, 10:19 AM Doha Time gulf-times.com By Pratap John DOHA: Exxon Mobil Corp is building a terminal at Golden Pass on the Texas-Louisiana border to receive LNG supplies from Qatar. ExxonMobil president Rex Tillerson told Gulf Times yesterday the Gulf Coast terminal would be ready by 2008 and would coincide with the start of production at Train 6 of RL3. Tillerson said the terminal would be linked to national network of gas pipelines, thus facilitating the supply of Qatari gas anywhere in the US. “However, there is a significant demand for LNG in Texas and in the US East Coast. So, the Qatari gas can very well be consumed in Texas and the East Coast itself,” he said. He said ExxonMobil also received permit to set up another LNG terminal in the US. Asked whether the new energy bill approved by President George Bush in August called for a shift in the focus of companies including ExxonMobil Tillerson replied in the negative. “No provision in the Energy Bill warrants a change in our policies and programmes. So we will go ahead with them,” he said. The bill focuses on increasing the production of oil, natural gas and other energy sources. The US now imports 60% of the 21mn barrels of oil consumed each day. Some key elements in the energy bill are a $11.4bn tax breaks and incentives over 10 years, mostly to boost wind and solar power, with lesser amounts going to oil and natural gas production and expansion of the Strategic Petroleum Reserve by 300mn barrels to 1bn barrels. On ExxonMobil’s partnership with Qatar Petroleum Tillerson said, “By working together with our partner QP, we will be able to significantly reduce the costs of delivering LNG and create a strong financeable project. RL3 is the largest LNG project that has been announced anywhere in the world. The project will make ExxonMobil and Qatar Petroleum the leaders in supplying gas to the US market. A project of this scale is only possible through the combined strengths of two world class companies and the excellent working relationship that exists between them”. Tillerson said some other possible sources of LNG supply to the US could be West Africa, Nigeria, Angola, Trinidad and Russia. Earlier US Energy Secretary Samuel Bodman said the US Government had given the go-ahead for eight more LNG receiving terminals in the US. They include two by ExxonMobil, one of which (Golden Pass) will receive 15.6mn tonnes per year of gas from RasGas III by 2009. Objections raised to these projects by provincial governments on environmental grounds have been sorted out. The new energy bill had also laid out clear policies to tackle such issues, Bodman said.