The facility will involve a floating production vessel with the capacity to produce some 12 million tons of liquefied natural gas annually. The markets for this LNG will be in the Pacific Basin, per the project’s website, with a focus on Asia, where demand for low-emission fuels is growing.
The company previously said it plans to make the final investment decision on the new facility by mid-2025 but, its chief executive said, it needs the go-ahead from the regulator. FERC had earlier rescinded its approval for the project on the grounds of concern related to its impact on air quality in the area. The concern prompted a second environmental assessment, which the regulator completed last week, concluding there was no danger for air quality, after all.