Pair plan US liquefaction terminal

LNG out: Freeport teams for gas export.

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By News Wires

 22 November 2010 21:38 GMT

Liquefied natural gas terminal developer Freeport LNG and Macquarie Bank have agreed to build an export plant in Texas to send US-produced gas overseas just as US inventories hit record highs.



The plan marks an about-face for Freeport LNG, which just two years ago built an LNG import terminal in Texas, and highlights the massive change brought about by increased unconventional gas production in the United States.

The plant, which would be able to export 1.4 billion cubic feet per day of gas by 2015, will cost about $2 billion and will be built on the site of Freeport LNG's existing import terminal, the company said late yesterday.

It is the second LNG production plant proposed in the United States this year,…

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