The sudden abundance of natural gas in the U.S. has owners of two new, but practically unused, liquefied natural gas (LNG) import terminals in Louisiana and Texas proposing expensive conversions to export the fuel—an unthinkable proposition just five years ago.
Freeport LNG and Cheniere Energy Inc., both of Houston, have announced separate plans to convert their existing LNG import terminals into export-import terminals, plans that would cost each company about $2 billion. The firms each anticipate approval from the U.S. Energy Dept. and the Federal Energy Regulatory Commission by about 2012, when they would begin facility construction, and both plan to begin exporting LNG by 2015.