Parallax Energy has announced the acquisition of Louisiana LNG Energy, LLC.
This is the second mid-scale natural gas liquefaction and export project undertaken by Parallax in 2015.
Louisiana LNG is being developed in Plaquemines Parish, southeast Louisiana, on the Mississippi River between New Orleans and Venice. Louisiana LNG initiated the Federal Energy Regulatory Commission (FERC) process in July 2014, and has applied for permits to export LNG to both free trade agreement (FTA) and non-FTA countries.
Parallax’s first project, Live Oak LNG, was announced earlier this year and is located in Calcasieu Parish, in southwest Louisiana near Lake Charles. The facility is being designed for average production of 5.2 million tpy and will include two storage tanks and marine loading berth. The start-up date is anticipated for late 2019.
“The addition of Louisiana LNG to our company sets the Parallax strategy firmly into motion. We have an innovative, efficient and cost effective way to safely produce what customers want - smaller amounts of LNG that they can purchase incrementally,” commented Martin J. Houston, Chairman of Parallax.
“One of our core tenets is ‘design it once and build it many times’. Louisiana LNG has a great head start and we are fortunate they selected the same technology and world class partners. We will be working with Bechtel on pre-engineering design and Chart for process design for both Louisiana LNG and Live Oak LNG. In addition, both projects have great locations with excellent pipeline supply and deep water access,” Houston added.
Adapted from press release by Katie Woodward
Read the article online at: https://www.lngindustry.com/liquefaction/28042015/parallax-buys-second-lng-project-in-us-658/