The federal Maritime Administration and U.S. Coast Guard issued a 4,242 page final Environmental Impact Statement (EIS) for the proposed Port Ambrose Project deepwater port. The EIS confirms that the project is needed, the location is safe, and that impacts to the environment are minimal.
According to developer Liberty Natural Gas, the project is designed to deliver natural gas to the New York and New Jersey regional market during times of peak demand, primarily in the winter heating season.
Liberty’s sponsors, West Face Capital (WFC), intend to invest $600 million of private equity into Port Ambrose, a project that does not rely on ratepayers or government subsidiaries.
Port Ambrose consists of specially designed dual-purpose LNG shuttle and regasification vessels (SRVs) that transport LNG to a remote offshore location for regasification and supply of supplemental natural gas directly into a new subsea pipeline system feeding directly into the existing Transco Lower New York Bay Lateral pipeline serving New York.
According to Liberty Natural Gas, each delivery will provide an average of 400 MMcf/d of natural gas – enough to meet the energy needs of 1.5 million homes – and priced at a discount to competing long-haul pipeline supplies.