Freeport LNG’s Liquefaction and Export Project

Because of a dramatic increase in US natural gas resource base, primarily shale gas, the U.S. now has more than 100 years of supply. Further, due to increased production, gas prices have fallen to the point that exporting natural gas is economically attractive, and these relatively low prices are expected to continue. As a result, Freeport LNG is developing an expansion of its terminal to enable liquefaction and export of approximately 1.9 billion cubic feet per day of US natural gas in the form of LNG. The terminal will still be able to import LNG if it is needed for the domestic market.

Fully built, the proposed expansion will require over $4.0 billion in direct investment and will employ more than 1,800 workers during a two- to three-year construction period. In addition, the plant will create an estimated 20,000 to 25,000 jobs related to the production of the natural gas that will supply the liquefaction project. The increase in natural gas production is also estimated to provide between $4.3 billion to $6.2 billion in annual economic benefits to the U.S. and will reduce the US foreign trade imbalance by approximately 1%.

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Freeport LNG and Macquarie Create Strategic Partnership
for LNG Liquefaction Project

On November 22, 2010, Freeport LNG and Macquarie Energy, the North American energy marketing and trading arm of Macquarie Group, announced an agreement to jointly develop and market liquefaction capacity at Freeport LNG’s existing LNG import terminal near Freeport, Texas.

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