GBA Presents: THE BARE ESSENTIALS

Discussion in 'Stocks' started by stonedinvestor, Mar 9, 2022.

  1. vanzandt

    vanzandt

    $800 million project in Bradford County in jeopardy
    An $800 million project in Bradford County is now in jeopardy.

    Author: AP
    Published: 6:54 AM EDT March 23, 2022
    Updated: 7:14 AM EDT March 23, 2022
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    New Fortress Energy Group wanted to open up a liquefied natural gas plant in Wyalusing.

    Newswatch first told you about the project in 2019.

    A subsidiary of New Fortress Energy Inc. agreed to pull the plug on its proposed LNG plant in Wyalusing — at least for now — in an agreement with a coalition of environmental groups that filed suit seeking to overturn the company's air emissions permit.


    The $800 million plant was intended to liquify million of gallons of natural gas from the Marcellus Shale gas field per day, with the liquified gas to be transported by rail or truck more than 175 miles (281 kilometers) to a proposed New Fortress export terminal in Gibbstown, New Jersey, along the Delaware River near Philadelphia. From there, the LNG would have been loaded onto ships for overseas delivery.

    PennFuture, the Clean Air Council and the Sierra Club took legal action to block the project. Under a settlement announced Monday, a New Fortress subsidiary agreed to halt construction and allow its air emissions permit from the Pennsylvania Department of Environmental Protection to lapse. If it wants to restart the project, the company will need to begin the state permitting process over again, according to settlement documents.

    The company's intentions weren't immediately clear. A message was sent to New Fortress seeking comment.

    Environmental groups had raised concern about air and water pollution near the proposed Wyalusing facility, as well as the risk of catastrophe during transport to New Jersey by either truck or train. New Fortress had obtained a special federal permit from the Trump administration to move the liquified gas by rail; the company applied for a renewal of that permit in November.
     
    #2471     Apr 29, 2022
  2. BUT NOT NFE-!

    New Fortress was set up in 2014 by Wes Edens, a former managing director at Lehman Brothers and BlackRock
     
    #2472     Apr 29, 2022
  3. vanzandt

    vanzandt

    Environmental Groups Shut Down Construction of Proposed Liquefied Natural Gas Plant
     
    #2473     Apr 29, 2022
  4. OMG they cracked the toughest state of all Cali!

    New Fortress Energy launches operations at Baja California LNG terminal-
    New Fortress Energy'sLNGterminal (the “Terminal”) in the port of Pichilingue, Baja California Sur, Mexico has begun commercial operations and will host an event featuring state and local officials at the Terminal on Friday, July 16th.

    “The delivery of more affordable and cleaner-burning natural gas is a significant milestone for Baja California Sur,” said Wes Edens, Chairman and CEO of NFE. “Our facility will enable customers to significantly reduce emissions and costs by switching from oil-based fuels to natural gas.”

    The introduction of natural gas into the Baja California Sur market will help enable more energy efficiency, cost savings and emissions reductions as it displaces fossil fuels. It also provides opportunities for job creation, training of a new, more specialized workforce, economic development and improved environmental management.

    The Terminal features NFE’s proprietary ISOFlex system, which allows larger LNG carrier vessels to transload LNG into ISO storage containers on offshore support vessels (“OSVs”) with a specialized manifold. These ISO storage containers can be easily offloaded at container ports and onto trucks, which enables the reduction of time, permitting requirements and capital costs for the development of NFE’s terminals.

    “We are proud to have deployed the first-of-a-kind ISOFlex system at our terminal in Baja California Sur,” said Sam Abdalla, Vice President of Project Development of NFE. “This is a big achievement for NFE and will enable us to deliver critical energy infrastructure and logistics solutions much more quickly and less expensively.”

    Under the terms of an agreement signed in March, NFE will supply natural gas to the CTG La Paz and CTG Baja California Sur power plants in Baja California Sur through the Terminal.

    Additionally, NFE has nearly completed construction of its own gas-fired power plant in Baja California Sur with a capacity of approximately 135 megawatts that is anticipated to begin operations and the supply of power to the local grid later this quarter.

    The Terminal’s truck loading operations were designed for the supply ofLNGto local hotels and industrial customers. The first industrial customers in Los Cabos are expected to begin operations with natural gas in the next two months.

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    #2474     Apr 29, 2022
  5. vanzandt

    vanzandt

    What kind of rinky-dink operation is this Stoney?!

    Using designs used for small-scale LNG projects in Southeast Asia, NFE has proposed retrofitting two jackup oil rigs with modular liquefaction trains. Each train would have 1.4 mmty capacity.

    A limited notice to proceed was given last year to Fluor Corp., Chart Industries Inc. and Baker Hughes Co.
     
    #2476     Apr 29, 2022
  6. vanzandt

    vanzandt

    That's Mexico you dodo.:rolleyes:
     
    #2477     Apr 29, 2022
  7. VAN NFE JUST DID A 180 IN THE PRE WE ARE BEING WATCHED AGAIN WE HAVE TO CLOSE THIS THREAD. F*ING ROBIN HOOD.

    They are ruining my trading.
     
    #2478     Apr 29, 2022
  8. I agree that fair value for this company is right here--

    BUT

    with the new terminal 2X-!
     
    #2479     Apr 29, 2022
  9. vanzandt

    vanzandt

    Under the Deepwater Port Act of 1974, the project could receive a public hearing sometime in the next 240 days and a decision on the application within 90 days after the hearing.

    Here comes the Sierra Club.
    And they're gonna use old outdated offshore rigs that are teetering on the edge of falling over from 30 years of hurricanes?

    I don't think so.
     
    #2480     Apr 29, 2022