On January 28, 2013, according to foreign media reports, Shell and North America's largest pipeline operator Kinder Morgan reached a cooperation agreement with the aim of moving from Elba Island near Savannah, Georgia, USA. The LNG import terminal (ElbaIslandLNGimportterminal) exports LNG.
In a statement, Shell said that it will establish a joint venture with King El Morgan’s subsidiary El Paso Pipeline Partners (EPB) to increase the transportation capacity of Elba Express natural gas pipeline in the latter's hands, and then transport natural gas through the pipeline to Elba LNG. The terminal is liquefied and finally loaded on the ship.
According to the agreement, the EPB will own 51% of the project and be responsible for operations; Shell will hold the remaining 49%, but it will have a 100% interest in terminal natural gas liquefaction capacity. It is expected that the LNG transportation capacity of the project will reach 350 million cubic feet per day.
King Kinder Morgan CEO Richard Kinder said: "The project will further help the United States reduce the pressure of excess natural gas production, and at the same time maintain a positive impact on trade balance with Other countries."
Affected by the prosperous shale gas production in North America, the United States has always sought to “lose†excess production. Therefore, many energy giants have formulated natural gas export plans that are strongly supported by the US Department of Energy. In June last year, Exxon Mobil announced that it will convert an import terminal located in Texas into an export facility; at the end of last year, Chevron and Apache together with Apache won the Canada Energy Saving West LNG export project, while Shell Is its biggest competitor.
It is understood that Kinder Morgan started the Elba LNG export project last year and obtained the permission to export LNG to countries with free trade agreements with the United States, but its goal is more than that, and he hopes to gain unrestricted LNG exports. Licensing began to look for strong partners.
Shell with rich financial resources and rich experience became the first choice for Kinder Morgan. For Shell, it has been considering whether to invest in U.S. LNG export projects, and choosing existing projects will indirectly save the long cycle of first approval. In addition, even if liquefaction and transportation costs are taken into account, Shell can also have a lower price. High profitability in the international market.
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