Zeus Development Corporation would like to thank all
participants
HOUSTON, June 11, 2003 - In the wake of announcements by the
Federal Reserve about the need for more natural gas, Saipem
Group, Single Buoy Moorings, Bluewater Offshore, Spectrum
Energy Services, Höegh LNG and Aker Kvaerner will discuss
radically new concepts for receiving terminals at an industry
meeting in Houston, June 19 and 20.
"The
LNG industry has typically required at least five years to put new supply chains
into place. With local community opposition to onshore terminals running high,
these lead-times may grow even longer," said Bob Nimocks, president of Zeus
Development Corporation, a company that is conducting industry research to investigate
new designs. "Consequently, the industry is searching for other ways to get
gas into pipeline grids, and terminals located far offshore are one such way."
Two proposed liquefied natural gas (LNG) terminals - one in the Gulf of
Mexico and one offshore California - will use existing infrastructure to expedite
construction and operation. The LNG can come from distant gas reserves located
as far away as West Africa and Australia.
The Gulf of Mexico terminal proposed
by Freeport-McMoRan Sulphur LLC will use a large surface platform built as part
of an offshore sulfur mine. The company is preparing a Deepwater Port license
application to receive and process LNG and compressed natural gas shipments. The
facility will be able to store very large amounts of natural gas underground.
Vice President David Landry will provide a review of the project during the Houston
conference, which is entitled LNG: Non-Traditional Concepts for Receiving and
Regasification.
The proposed California terminal will use a depleted
gas-production platform connected to a undersea pipeline offshore Oxnard. Crystal
Energy has signed a long-term lease to use Platform Grace, set in federal waters
11 miles offshore. Bill Perkins, president of the company, will provide a cost
build up of their project during the conference.
In addition to these two
projects, numerous new designs - running the spectrum from manmade islands, to
permanently moored floating storage ships, to modified LNG tankers that can pump
and vaporize LNG directly into subsea pipelines - will be presented.
To learn more about the conference and the related research,
see www.LNGExpress.com/LNGNTT,
or contact
, Zeus Development Corporation, 713-952-9501.
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