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G2X ENERGY Plans $1.3 Billion Natural Gas To Gasoline Facility At Port Of Lake Charles, Louisiana

Area Development Online News Desk (01/16/2013)
G2X Energy Inc. plans to build a $1.3 billion natural gas-to-gasoline facility at The Port of Lake Charles in Southwest Louisiana, creating an estimated 243 jobs in The Calcasieu Parish.

G2X Energy will use natural gas to produce methanol, then convert methanol to final gasoline for 90 percent of its production. About 10 percent of the output will be liquefied petroleum gas, or propane. This week, G2X Energy will finalize an option to lease 200 acres in the Industrial Canal at the Port of Lake Charles, where the company will have the flexibility of shipping gasoline by pipeline or sea, Louisiana Economic Development said.

Louisiana Economic Development estimates the project also would result in 748 new indirect jobs, for a total of nearly 1,000 new permanent jobs in Southwest Louisiana.

"We are very excited to be working with the State of Louisiana and The Port of Lake Charles on this project," G2X Energy President and CEO Timothy Vail said. "Our natural gas-to-gasoline conversion process – developed and backed by one of the world's largest energy companies – is a proven solution for the clean and economic production of transportation fuels from abundant domestic natural gas. The Lake Charles location is ideally suited for our plant facilities, and Governor Jindal's teams have been very proactive in working with us to ensure a successful project. We look forward to the completion of our preliminary evaluation of the opportunity and a firm decision to move forward with the project."

Gov. Bobby Jindal said; "Today's announcement is great news for Southwest Louisiana and our entire state. Louisiana is an energy-rich state and we're proud of that heritage. In order to keep our energy industry strong, we have made a serious commitment to aggressively pursue companies that want to invest in Louisiana and create jobs here for our people. G2X's investment is proof of that commitment, and this project will mark another milestone in Louisiana's momentum as a leader in oil and gas initiatives that bring innovation and energy independence to Louisiana and the entire country. G2X could have invested in other states, but they chose Louisiana because of our strong business climate, energy infrastructure and incomparable workforce."

As part of a package of incentives, LED offered the company a $5 million performance-based grant for infrastructure improvements at the port, including an access road, utilities and a dock facility. In addition, G2X Energy is expected to utilize the state's Quality Jobs and Industrial Tax Exemption incentives.


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