Why are we importing NG from Qatar????

Discussion in 'Energy Futures' started by MP Trader NYC, Mar 15, 2011.

  1. Qatar Golden Pass LNG terminal in US starts commercial operations
    Doha (Platts)--14Mar2011/503 pm EDT/2103 GMT

    Qatar Petroleum said Monday the US Federal Energy and Regulatory Commission had granted "in service authority" for its Golden Pass LNG terminal in Texas and the Golden Pass Pipeline, which have started commercial operations.

    Located near Sabine Pass, Texas, the Golden Pass LNG terminal has the capacity to deliver the equivalent of 2.5 Bcf/d of natural gas. "This represents enough natural gas to meet the average daily needs of about 10 million US households," QP said in a statement.

    Golden Pass LNG and the Golden Pass pipeline are a joint venture of Qatar Petroleum International (70%), a QP affiliate, ExxonMobil (17.6%) and ConocoPhillips (12.4%).

    "The commencement of commercial operations at the Golden Pass terminal and pipeline marks another notable achievement in Qatar's world-leading LNG business, and is yet another testament to the vision of His Highness the Emir, Sheikh Hamad Bin Khalifa Al Thani, for the strategic use of our natural resources and for ensuring a secure supply of clean energy to the world," Qatari Oil Minister and Qatargas Chairman Mohammed Saleh al-Sada said in the statement.

    "The Golden Pass LNG terminal and pipeline represent an important investment for Qatar Petroleum International in the United States and will help further expand Qatar's global reach in the energy sector," said Nasser Jaidah, CEO of Qatar Petroleum International.

    The Golden Pass terminal and pipeline facilities include two berths for unloading double-hulled LNG ships, including the world?s largest Q-Flex and Q-Max ships, five LNG storage tanks with capacity of 155,000 cubic meters each as well as vaporization equipment to convert cooled LNG back to natural gas. They also include pipeline facilities and equipment to transport the natural gas from the terminal to customers.

    Qatar is the world's biggest LNG exporter, with current capacity of 77 million mt/year.

    QP said the formal inauguration ceremony of the terminal, to be attended by Prime Minister Sheikh Hamad bin Jassem al-Thani, would be held in New York April 6-7 as part of the Business and Investment in Qatar Forum.

    --Staff, newsdesk@platts.com

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