REGION: NORTH AMERICA
PROJECT DEVELOPER: PANGEA LNG (NORTH AMERICA) HOLDINGS, LLC
PROJECT NAME: SOUTH TEXAS LNG EXPORT
CAPACITY: 8 million metric tons per year
PROJECT CONTACT: Mr. John Godbold, SouthTexasLNG@PangeaLNG.nl
Pangea LNG has proposed development of a natural gas liquefaction facility at the Port of Corpus Christi. This site is advantageous because natural gas for export can be obtained from a variety of sources, near and far, starting with the Eagle Ford Shale reserves, just 60 miles from the Project site, and ending with natural gas transported from most anywhere in North America through the extensive interstate pipeline network running through South Texas or by displacement.
The project, known as South Texas LNG Export, is being developed through Pangea LNG (North America) Holding, LLC. with Statoil North America Inc. as a joint development partner and potential buyer of LNG output.
The project site includes 550 acres on the north shore of Corpus Christi Bay adjacent to the 45-foot deep La Quinta Ship Channel. It has 2,400 feet of ship channel frontage and is surrounded by an existing industrial development.
Pangea LNG is in the process of filing export authority applications for South Texas LNG with the U.S. Department of Energy seeking approval to export up to eight million metric tons of LNG per year. The project will require authorization from the Federal Energy Regulatory Commission (FERC) and be subject to a full public environmental review process. A FERC application will be filed in 2013 and the export terminal could be in commercial operation by 2017. The project will also have an associated pipeline to connect the LNG liquefaction facility to the extensive natural gas pipeline network in South Texas.
The U.S. is being referred to as the Saudi Arabia of natural gas. The Eagle Ford Shale alone covers nearly 12,000 square miles in Texas and numerous other new sources of natural gas have been found and are continuing to be found. With over a 100 years supply of natural gas from existing and new sources, the U.S. has a great opportunity to export some of this gas to assist its trading partners and boost the local, Texas, U.S. and world economies, while helping improve the balance of trade and creating thousands of jobs.
Pangea LNG has concluded that exporting LNG from the proposed facility in San Patricio County will help stabilize U.S. natural gas prices, sustain drilling and production jobs, and stimulate investment in developing additional gas reserves.