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Permission to begin construction could be granted by the first quarter of 2018 with commercial operations in 2019.
Jacksonville, FL (January 31, 2017) — Eagle LNG Partners (“Eagle LNG”) is pleased to announce it has achieved a major milestone by filing its formal application with the U.S. Federal Energy Regulatory Commission (“FERC”) for authorization under Section 3(a) of the Natural Gas Act to site, construct and operate natural gas liquefaction and export facilities located at a site on the St. Johns River in Jacksonville, Florida (the “Jacksonville LNG Project” or “Project”). The proposed Project consists of three liquefaction trains, and at full build-out, will be capable of producing up to 1.65 million gallons of LNG per day, or approximately 1 million tonnes per annum.
The produced LNG will be transported to markets in the Caribbean and Latin America for power generation. It will also be delivered to local and regional markets, including marine bunkering and high horsepower applications for domestic consumption. “The dramatic growth of natural gas supply in the United States has created abundant and affordable natural gas reserves that make LNG a competitively priced fuel alternative to diesel and heavy fuel oil. In addition, natural gas fuel has significant environmental benefits, reducing air pollution and carbon emissions,” said Dick Brown, CEO of Eagle LNG. “If Eagle LNG receives permission from FERC to begin construction by the first quarter of 2018, we anticipate completion of the Project in 2019,” added Mr. Brown.
Many Caribbean countries currently rely on petroleum to supply a large portion of their electricity needs. This Project supports their tremendous desire and interest to have a cleaner energy solution that provides a direct and reliable supply of LNG from a liquefaction source at predictable cost. LNG from this Project also complements greater penetration of renewables in the region leading to an environmentally sustainable future.
In addition, this Project is well positioned to support the fueling needs of the maritime industry. In November 2016 at the 70th meeting of the Marine Environment Protection Committee, the International Maritime Organization confirmed the global 0.5% cap on sulphur content in marine fuel will come into force in 2020. This Project will help the maritime industry meet this major transition to stricter emissions levels by producing high-quality LNG for use in marine bunkering.
Eagle LNG strives to maintain a transparent application process. Interested parties will be able to monitor the Jacksonville Project application process via our website at www.eaglelng.com
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About Eagle LNG Partners
Eagle LNG is a wholly-owned subsidiary of Ferus Natural Gas Fuels LP and privately-held by The Energy & Minerals Group. Eagle LNG is building LNG infrastructure across the United States to supply clean-burning, competitively-priced fuel for the marine, remote power, rail, oil and gas, and trucking industries. In addition to the Jacksonville LNG Project, Eagle LNG is constructing the Maxville LNG Project, a domestic natural gas liquefaction plant located west of downtown Jacksonville, FL, and a state-of-the-art marine bunkering terminal at Talleyrand in Jacksonville, FL; both will be operational in the summer of 2017. The Maxville Project will supply LNG to Crowley Puerto Rico Services to be used in their LNG-powered Commitment Class ships for U.S. mainland to Puerto Rico trade. Eagle LNG is based in Houston, TX. For additional information, please visit www.eaglelng.com.
About The Energy & Minerals Group (EMG)
EMG is the management company for a series of specialized private equity funds. The firm was founded by John Raymond (majority owner and CEO) and John Calvert in 2006. EMG focuses on investing across various facets of the global natural resource industry including the upstream and midstream segments of the energy complex. EMG has approximately $14.7 billion of regulatory assets under management and approximately $9.8 billion in commitments have been allocated across the energy sector since inception. For additional information, please visit www.emgtx.com.
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