Eagle LNG Flies in Face of Down Trend and Low Gas Pricing, Moves Ahead with Planned Site in Florida

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Researched by Industrial Info Resources (Sugar Land, Texas)--Eagle LNG has been able to persevere the down trend in natural gas pricing over the past two years and is moving forward with its planned micro-LNG production site in Jacksonville, Florida. Eagle LNG, a subsidiary of Ferus Incorporated (Calgary, Alberta) and a former joint venture of Ferus and Clean Energy Fuels Corporation (Newport Beach, California), is already working on site preparation for the liquefaction and export terminal.

The plans for the site include three LNG production trains, with each producing approximately 200,000 gallons of LNG per day for a total site production of 600,000 gallons per day. A portion of the capacity from the first train has already been sold to Crowley Puerto Rico Services (Jacksonville, Florida) to fuel LNG tankers. The estimated investment for the entire site is between $250 million and $300 million. Production from train one is expected in the first half of 2017.

Eagle LNG selected Saulsbury Industries (Houston, Texas) to serve as the engineering, procurement and construction (EPC) provider for the process and liquefaction facility and picked Matrix Service Company (NASDAQ:MTRX) (Tulsa, Oklahoma) as the engineer, procurement, fabrication and construction (EPFC) contractor for the 1 million gallon storage tank. Physical construction on the tank is expected by the middle of summer.

Clean Energy pulled out of the Jacksonville LNG project once Ferus decided to develop the project into more of an export facility as opposed to a smaller, fleet fuel-centric type facility. Ferus will sell the excess LNG to customers in the Southeast U.S. and other Caribbean customers, with the potential to sell LNG in ISO tanks.

Ferus is also moving forward with a new micro-LNG plant in Edmonton, Alberta. The 100,000 gallon-per-day LNG plan has been granted permit and capital approval. Construction is expected to begin in the fourth quarter of this year. The LNG will be sold to be used in drilling rigs, fleet vehicles, rail, mining and power generation. Milford Engineering (British Columbia, Canada) is serving as the design engineer.

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