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GDF Suez announces advanceLNG Project

LNG Industry,

GDF Suez Gas NA has today revealed the advanceLNG Project, a scheme to provide lucratively priced LNG to a wide variety of customers based in northeast of the United States using abundant natural gas production from the Marcellus and Utica shale regions. GDF Suez Gas NA is accepting non-binding bid sheets for LNG supply from the proposed project. This will take effect from today and will last until the very end of 2013. Customers will purchase LNG at the price of the TETCO M3 gas index + $5.00/MMBtu (or, stated in gallons, as the Gas Index + $0.42/LNG Gallon), FOB plant (i.e. picked up by customer at the plant).

Senior Vice President of Operations of GDF SUEZ Gas NA., Frank Katulak, said: “Today, we are pleased to expand our product offering with the advanceLNG Project, which would serve both new and existing demand by providing reliable and cost-effective LNG supply. For more than four decades, we’ve supplied LNG to customers in the Northeast via tanker truck and pipeline deliveries, and we look forward to bringing more supply to the region.”

An an announcement, GGDF Suez Gas NA said that LNG from their facility in Everet, Massachusetts, had helped supply New England with ample supplies for over 40 years.

An increase in national supply for natural gas, high fuel costs, tough ecological regulations and advances in technology have seen the LNG market boom in:

  • Vehicle fuel for long-hail trucking, marine vessels and railroad locomotives.
  • Commercial and industrial applications involving heat, power, and process needs of business without access to pipeline natural gas.
  • High horsepower applications, such as generators for oil and gas exploration and production.

GDF Suez Gas NA are planning to implement a facility solely to meet their own needs, rendering their pricing more attractive than that of individual consumers. This comes as a result of collating demand from a large number of users.

Starting January 1, 2014, GDF SUEZ Gas NA representatives will contact all parties who have submitted timely non-binding Bid Sheets to negotiate definitive agreements.

Edited from various sources by Ted Monroe

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