Cheniere Energy Announces Construction of $6 Billion Natural Gas Liquefaction Facility in Louisiana
The Houston-based company will invest $6 billion dollars to expand its existing facility, which will be one of the largest capital investments in the state's history. The project will add liquefaction capabilities to the Sabine Pass terminal, and transform it into a bi-directional facility capable of exporting liquefied natural gas (LNG) as well as receiving LNG for regasification.
The expansion will create 148 new jobs and retain 77 jobs, support 589 indirect regional jobs, and create 3,000 temporary construction jobs.
Construction commences early next year, and hiring for the new permanent jobs will begin in 2014. The facility is expected to be operational in 2015 (its final phase should be complete by year-end 2018). Gov. Jindal said the new facility "will grow our economy, increase natural gas production and become a major exchange in continuing to meet the demand for energy around the world."
Cheniere is expected to use the Quality Jobs and Louisiana FastStartTM programs as well as the Industrial Tax Exemption Program to support the expansion project.
"Our liquefaction project will provide thousands of jobs in Southwest Louisiana while connecting the state's natural gas industry to global markets, making Louisiana the world's first dual importer and supplier of LNG," said Cheniere's Chairman/CEO Charif Souki.
"This project is a terrific example of the tremendous secondary economic benefits associated with the Haynesville Shale and other unconventional natural gas plays in our country," added Louisiana Economic Development Secretary Stephen Moret. "We expect to see even more massive capital investment projects associated with the Haynesville Shale announced in Louisiana over the next few years. The economic benefits of historically low, stable natural gas prices in Louisiana have only begun to be realized."
Why are Foreign Trade Zones Making a Comeback?
The New Normal in the Automotive Supply Chain
2020 Auto/Aero Site Guide
34th Annual Corporate Survey & the 16th Annual Consultants Survey
Infrastructure Investment as an Economic Stimulus Tool
Nondisclosure Agreements Best Practices When Negotiating Incentives
2019 Top States for Doing Business: Georgia Ranks #1 Sixth Year in a Row