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AES Announces Plans to Increase Investment in Alternative Energy, Including LNG

AES today announced plans to invest approximately $1 billion over the next three years to expand its alternative energy business, including LNG.  Predicting that traditional sources of energy will not satisfy growing demand, AES will invest in wind, biomass and LNG to generate over 17 million tonnes of carbon reduction credits through 2012.  AES has three proposed LNG import facilities...

Investors Pull Out of Port Westward LNG

The Daily Astorian reports that Port Westward LNG has temporarily suspended its proposal for an LNG terminal near the lower Columbia River because the company has not been able to secure control of the proposed project site. According to the CEO of Port Westward, project investors have withdrawn their financial support, which appears to have derailed a December 2005 negotiated lease...

Calhoun LNG Makes Progress

World Gas Intelligence  reports that the proposed Calhoun LNG terminal is financially able to push forward, and that Haddington Energy Partners is expected to provide financing in the future. Further, Calhoun president Chris Hilgert says Calhoun may sign MOUs with liquefaction projects in Nigeria and North Africa after final investment decisions are made later this year. In addition to...

Pennsylvania To Invest $3.7 Million in Alternative Fuels

According to a press release from the Pennsylvania Department of Environmental Protection, the State will invest $3.7 million in incentives for the development of alternative fuels, including LNG.  According to Governor Ed Rendell such “strategic investments will help us realize greater independence from imported oil, enhance our energy security at home and stabilize prices for...

ConocoPhillips and Shell Confirm U.S. LNG Deal

This week’s World Gas Intelligence reports that late last month ConocoPhillips and Royal Dutch Shell each finalized a contract for a 30% stake in a Qatar petroleum production train. Trains 6 and 7 (known as Qatargas -3 and -4) are under construction, and could send LNG to the US by 2009. [Subscription...

Freeport LNG Finalizes $383 Million Financial Agreement

Freeport LNG yesterday reported that it has obtained funds through a $383 million financial deal reached with nine investors. The money will be used to develop an underground salt cavern gas storage facility and Phase 1 of the company’s LNG terminal project in Freeport, Texas. The press release is available through BusinessWire. [Free registration...

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