The Gulf LNG regasification and LNG storage facility on the Gulf of Mexico began operations. The facility, co-owned by GE Energy Financial Services and El Paso Corp. (NYSE: EP), is located in Pascagoula, Miss., along the Gulf of Mexico adjacent to the Bayou Casotte Ship Channel in the Port of Pascagoula on the Gulf Coast.
The facility has two 160,000-cubic-meter storage tanks with a combined capacity of 6.6 billion cubic feet and has a base send-out capacity of 1.3 billion cubic feet per day. Gulf LNG is connected to pipelines operated by Gulfstream, Destin, Transco and Florida Gas Transmission through five miles of 36-inch pipeline. These connections provide the facility with access to BP America Production Co.'s Pascagoula natural gas processing plant.
“After three and a half years of construction, this $1.1 billion facility was completed on time and on budget and forms an important part of our nation’s energy infrastructure,” Dan Castagnola, a managing director of GE Energy Financial Services, said in a news release. “Our co-ownership of this facility reflects GE Energy Financial Services’ strategy of supporting long-term critical infrastructure projects that help meet energy demand and draw on GE’s strengths and expertise in energy.”
Gulf LNG, which is operated by El Paso, is supported by 20-year firm service agreements for all of its capacity with a group of LNG producers.
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