Lake Charles LNG project receives FERC approval

The Lake Charles LNG export project in Louisiana has received approval from the US Federal Energy Regulatory Commission (FERC) for the construction and operation of a natural gas liquefaction and export facility in Lake Charles, Louisiana.

FERC approval is the key remaining regulatory consent for the Lake Charles LNG project, which BG Group (LSE: BG.L) is developing with Energy Transfer Equity LP (NYSE: ETE) and Energy Transfer Partners LP (NYSE: ETP). Energy Transfer owns an existing LNG regasification facility in Lake Charles, which will be converted to a liquefaction facility.

The project has conditional authorization from the US Department of Energy for the export of up to 2 billion cubic feet of natural gas per day or approximately 15 million metric tons of LNG per annum. 

Final investment decisions from both BG Group and Energy Transfer are expected to be taken in 2016, with construction to start immediately following a positive decision and first LNG exports anticipated about four years later.

BG Group is responsible for selecting the engineering, procurement, and construction (EPC) contractor and managing construction. Upon completion, BG Group will operate and be responsible for the LNG offtake from the facility.

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