Neptune LNG gets license

Suez Energy North America subsidiary Neptune LNG Llc. has received its Deepwater Port License for the Neptune offshore LNG facility.

Offshore staff

BOSTON --Suez Energy North America subsidiary Neptune LNG Llc. has received its Deepwater Port License for the Neptune offshore LNG facility.

This license allows the company to build, own and operate the Neptune LNG delivery system in Massachusetts Bay.

"I conclude that the construction and operation of the Neptune deepwater port will be in the national interest and consistent with national security and other national policy goals and objectives, including energy sufficiency and environmental quality," says Sean T. Connaughton, Maritime administrator.

Neptune is the first offshore LNG project on the US East Coast to reach this milestone, according to Suez.

The company says the Neptune project will provide 400 - 750 MMcf/d of natural gas per day - enough to serve 1.5 - 3 million homes daily in Massachusetts and New England.

Neptune LNG anticipates having an operational project, including construction of a lateral pipeline connection to the existing HubLine subsea pipeline in the Bay, in 2009.

"Suez has more than three decades of LNG experience worldwide. With this approval, the company has cleared an important hurdle and is able to further strengthen its position as a key LNG player in the Atlantic basin," says Dirk Beeuwsaert, CEO of Suez Energy International.

3/30/2007

More in Company News