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Connecticut Seeks 2,000 MW of Offshore Wind Capacity

LCG, August 22, 2019--The Connecticut Department of Energy and Environmental Protection (DEEP) on Friday released a request for proposals (RFP) for offshore wind power projects. DEEP is seeking up to 2,000 MW, as required under Public Act 19-71, An Act Concerning the Procurement of Energy Derived from Offshore Wind.

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EIA Publishes Regional Electricity Supply and Pricing Forecasts Using UPLAN Model

LCG, August 13, 2019--The U.S. Energy Information Administration (EIA) announced that it is revising the presentation and modeling of its forecasts for electricity supply and market hub pricing to better reflect current electricity markets and system operations in the U.S. Beginning with the August 2019 Short-Term Energy Outlook (STEO), the new forecasting approach models electricity markets using the UPLAN production cost optimization software developed by LCG Consulting. EIA uses the solution results provided by this proprietary model to develop the STEO forecasts of monthly electricity generation, fuel consumption, and wholesale prices.

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Industry News

Final Financing Decision Reached for Cameron LNG Export Project

LCG, August 7, 2014 - Sempra Energy yesterday announced the Cameron Liquefaction Project sponsors, Sempra LNG, GDF SUEZ S.A. (GDF SUEZ), Mitsui & Co., Ltd. (Mitsui) and Mitsubishi Corporation (Mitsubishi), through a related company jointly established with Nippon Yusen Kabushiki Kaisha (NYK), each have approved a final investment decision for the development, construction and operation of the natural gas liquefaction and export project planned at the site of Sempra Energy's Cameron LNG receipt terminal in Hackberry, Louisiana.

The total project cost is estimated at approximately $10 billion, including contribution of the existing Cameron LNG facilities, construction of the new facilities and financing cost.?? The financing commitments for the project total $7.4 billion and will be provided by the Japan Bank for International Cooperation (JBIC), Nippon Export and Investment Insurance (NEXI) and a group of 29 commercial banks.

The president of Sempra LNG stated, ???This represents one of the largest project financings in the U.S. Today's commitments from our project sponsors and international banks put us one step closer to delivering domestic natural gas to America's trading partners in Europe and Japan."

In June the Federal Energy Regulatory Commission (FERC) authorized Sempra Energy???s subsidiary, Cameron LNG, to site, construct and operate the natural gas liquefaction and export facility at the site of the company's LNG receipt terminal in Hackberry. ??The FERC also authorized in June a subsidiary of Sempra Energy to construct a 21-mile, 42-inch natural gas pipeline expansion of the Cameron Interstate Pipeline, new compressor station and ancillary equipment that will provide natural gas transportation for the liquefaction facilities.

The Department of Energy (DOE) previously awarded the project a conditional authorization to export LNG to non-free-trade-agreement (non-FTA) countries, including Japan and European nations. A final authorization from DOE is expected later this year.

The project natural gas liquefaction facilities include three trains that will have a combined export capability of 12 million tonnes/year of liquefied natural gas (LNG), or approximately 1.7 Bcf/day. ??Subject to final regulatory approval, satisfaction of conditions of the initial equity funding and first disbursement of the financing, construction on the project is expected to begin later this year. ??All three trains are expected to commence operations during 2018.

Subject to the finalization of permits and other conditions to the equity and debt financing, Sempra Energy will have an indirect 50.2-percent ownership interest in Cameron LNG and the related liquefaction project, and the remaining portion will be owned by affiliates of GDF SUEZ, Mitsubishi (through a related company jointly established with NYK) and Mitsui, each with 16.6-percent stakes.

There is another LNG export project in the Gulf that is gaining momentum as well. At the end of last month, the FERC authorized Freeport LNG Development, L.P. (Freeport LNG) to site, construct, and operate facilities to liquefy and export domestic natural gas from its existing liquefied natural gas (LNG) import terminal located near the city of Freeport, Texas. The Freeport Liquefaction Project liquefaction facilities will include three trains and a combined liquefaction capacity of 1.8 Bcf/day. Freeport LNG expects to start construction on the liquefaction project this year and achieve commercial operation of the first liquefaction train in 2018, with the second and third trains operational in 2019.
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