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09/16/2017 | 10:27am EDT
Energy World : Learn about proposed Fourchon LNG plant
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A public forum is scheduled for Tuesday in Galliano.
Residents can learn more about a companys plans to build an $888 million liquefied natural gas export terminal at Port Fourchon during a public forum next week.
Members of Fourchon LNG and the Federal Energy Regulatory Commission will lead the open house from 5 p.m. to 7 p.m. Tuesday at the South Lafourche Library, 16241 E. Main St, Galliano.
The company, a subsidiary of Hong Kong-based Energy World International, has asked the federal agency to review the proposed liquefied natural gas plants safety and environmental impact. The review normally takes at least two to three years.
Officials with the company and the federal agency will discuss the project and answer questions during Tuesdays meeting.
Energy World and Port Fourchon announced the plans in January amid a continuing oil bust that has stripped an estimated 14,000 jobs from the Houma-Thibodaux economy over the past three years. The port, a service hub for the Gulf of Mexico oilfield, has worked with Energy World since April 2016, when the company first approached officials about the proposed facility.
The price tag makes the LNG terminal the largest single initial investment in the history of both Port Fourchon and Lafourche Parish, officials said. The LNG facility would be built on up to 150 acres of port-owned property to the west of Belle Pass, outside the ports existing developments.
Officials estimated earlier that the terminal could bring 200 construction jobs and a couple dozen full-time positions once complete.
But in a news release Thursday, the company says it is expected to create about 500 during construction and 150 jobs over the terminals operating life.
New technologies have created new opportunities for not only the production, but consumption of gas, the news release says. Shipping fleets, both road and seaborne, are switching to gas as a cleaner more economical fuel supply. Countries in Asia as well as nearby in the Caribbean are seeking natural gas as a cleaner alternative to coal and oil-fired power generation and to provide a bridge to renewable energy.
The Fourchon plant would receive natural gas via pipeline and convert it to liquid, which would be transported by tanker to markets in the Caribbean and elsewhere. Company officials have also said they plan to sell some of the gas to Gulf of Mexico oilfield fleets that are expected to increase use of the fuel.
The company said Thursday that it will build the plant in two phases. The first, which would cost about $888 million, will include four liquefaction trains, structures used to liquefy and purify the flammable gas. Combined, they would produce up to 2 million tons of LNG per year. It would also construct a storage tank that could hold about 3.1 cubic feet of LNG and a site to load the fuel onto ships for export.
Phase 2 will add another plant that could produce up to 3 million tons of LNG per year and an identical storage tank.
EWC Price at posting:
38.0¢ Sentiment: Buy Disclosure: Held
