GE Energy Financial Services said its co-owned Gulf LNG regasification and LNG storage facility on the Gulf of Mexico has begun operations. GE made the announcement at a ceremony at the facility in Pascagoula, MS, joined by Gov. Haley Barbour and executives of El Paso Corp.
“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,” said Dan Castagnola, a managing director of GE Energy Financial Services in Houston.
The terminal, operated by a subsidiary of El Paso Corp., receives, stores and regasifies imported LNG. It includes two 160,000 cubic meter storage tanks with a combined capacity of 6.6 Bcf; 10 vaporizers, providing a base send-out capacity of 1.3 Bcf/d; and five miles of 36-inch pipeline connecting to downstream pipelines owned by Gulfstream, Destin, Transco, and Florida Gas Transmission. The pipelines provide access to the Pascagoula Gas Processing Plant operated by BP America Production Co.
The facility is contracted under 20-year firm service agreements for all of its capacity with a group of LNG producers including several major oil and gas companies.