Massachusetts LNG Project Dominates Terminals Industry Projects in 2009

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Researched by Industrial Info Resources (Sugar Land, Texas)--While Industrial Info is currently tracking about $3 billion of Terminals Industry projects that have already begun construction this year or plan to start construction before the end of 2009, one particular project dominates all other 2009 projects in this industry sector. Neptune LNG LLC's (Gloucester, Massachusetts) grassroot liquefied natural gas (LNG) receiving terminal, located 22 miles offshore from Boston, has an estimated total investment value of $840 million, while the associated grassroot LNG pipeline has an estimated value of $60 million. Neptune LNG is a subsidiary of GDF Suez (OTC:GDFZY) (Paris, France).

Construction of two shuttle and regasification vessels (SRVs) commenced in 2007 in South Korea by Samsung Heavy Industries Company Limited (SEO:010140) (Seoul, South Korea). The vessels are now complete, and both are currently en route from South Korea to the U.S., with one vessel having departed for the U.S. September 19, and the other September 21. Buoy installation at the receiving terminal site commenced in May, and once the SRVs are in place, construction of the facility should be complete by the end of the year.

Once the project begins operations, it will be one of only a few operational floating storage and regasification units (FSRU) in the world, although other FSRU projects are in the planning or construction stages. Broadwater Energy LLC (Riverhead, New York), a subsidiary of TransCanada Corporation (NYSE:TRP) (Calgary, Alberta) and Shell (NYSE:RDS.A) (The Hague, Netherlands), is currently in the permitting stages of a proposed FSRU LNG-receiving terminal in New York state, nine miles from the town of Riverhead, New York, on the north shore of Long Island.

Once complete, the Neptune LNG-receiving terminal will be able to supply approximately 400 million standard cubic feet per day of natural gas to Boston and the surrounding area, with the ability to supply 750 million standard cubic feet per day during the peak winter months. Information on this project and other projects involving natural gas, oil, and chemical storage can be found in Industrial Info's North American Industrial Database.

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