El Paso, GE open Gulf LNG regasification terminal
GE announced on Thursday that its co-owned Gulf LNG regasification and liquefied natural gas storage facility on the Gulf of Mexico has successfully begun operations.
GE made the announcement at a ribbon-cutting ceremony at the facility in Pascagoula, Mississippi, joined by Gov. Haley Barbour and executives of El Paso Corp.
“After three and a half years of construction, this $1.1 billion facility was completed on-time and on-budget and forms an important part of our nation’s energy infrastructure,” said Dan Castagnola, managing director of GE Energy Financial Services in Houston.
“Our co-ownership of this facility reflects GE Energy Financial Services’ strategy of supporting long-term, critical infrastructure projects that help meet energy demand and draw on GE’s strengths and expertise in energy,” he added.
The terminal, operated by a subsidiary of El Paso Corp., is located adjacent to the Bayou Casotte Ship Channel in the Port of Pascagoula on the Gulf coast.
It receives, stores and regasifies - turns back into gas - imported liquefied natural gas, known as LNG.
The terminal consists of two 160,000 cubic meter storage tanks with a combined capacity of 6.6 billion cubic feet (Bcf); 10 vaporizers, providing a base send-out capacity of 1.3 Bcf/d; and five miles of 36-inch pipeline connecting to downstream pipelines owned by Gulfstream, Destin, Transco, and Florida Gas Transmission.
The pipelines provide access to the Pascagoula gas processing plant operated by BP.
The Gulf LNG facility is contracted under 20-year firm service agreements for all of its capacity with a group of LNG producers, including several major oil and gas companies, to support the facility and provide a source of LNG, according to company officials.
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