April Start Expected for Sabine Pass LNG

Officials with Cheniere Energy told Reuters last week announced that they expected Sabine Pass LNG to receive its first LNG shipment in February 2008 and to commence commercial operations in the following April. When it begins operations, two storage tanks will be completed with a third nearly ready for operation. The second phase of the project will include two more storage tanks and will be completed in 2009.

Separately, KPLC TV reports that Cheniere Energy has begun paying property taxes to Cameron Parish. Cheniere’s property taxes were not due for ten years due to exemptions for industrial development, but the company has pledged to pay $2.5 million annually for the next ten years.  Cheniere chief executive Charif Souki said that the company volunteered early payment in order to help the parish recover from Hurricane Rita.

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