PRTODAY / NewswireToday Free press release distribution service network

More news: Energy
Written by / Agency / Source: General Electric Company

Check Ads Availability|e-mail Article


Are you the owner of this article?, Turn it PREMIUM with your LOGO instead - and make it 3rd party Ads-Free! within the next hour!

GE’s Energy Investing Unit Pumps $150 Million into Liquefied Natural Gas Terminal - Expanding Core US Infrastructure - GE Energy Financial Services announced it is investing $150 million in a liquefied natural gas receiving terminal under construction in Mississippi that will increase natural gas supplies to the Northeast and Southeast United States
GE’s Energy Investing Unit Pumps $150 Million into Liquefied Natural Gas Terminal - Expanding Core US Infrastructure

 

NewswireToday - /newswire/ - Pascagoula, MS, United States, 2010/03/31 - GE Energy Financial Services announced it is investing $150 million in a liquefied natural gas receiving terminal under construction in Mississippi that will increase natural gas supplies to the Northeast and Southeast United States. NYSE: GE

   
 
Your Banner Ad Here instead - Showing along with ALL Articles covering Energy Announcements

Replace these Affiliate Programs at ANYTIME! Your banner here within the next hour. Learn How!


 

GE Energy Financial Services -- pursuing its strategy of helping to build core, essential energy infrastructure -- announced today it is investing $150 million in a liquefied natural gas receiving terminal under construction in Mississippi that will increase natural gas supplies to the Northeast and Southeast United States. The business unit of GE (NYSE: GE) is acquiring Houston-based investor Crest Group’s 30 percent interest in the fully contracted $1.1 billion Gulf LNG Energy terminal, expected to be completed late next year.

The terminal, adjacent to the Bayou Casotte Ship Channel in the Port of Pascagoula on the Gulf Coast, will receive, store and regasify -- turn back into gas -- imported liquefied natural gas, known as LNG. Under construction are two 160,000 cubic meter natural gas storage tanks with a combined capacity of 6.6 billion cubic feet, 10 vaporizers and connections to the Gulfstream, Destin, Florida Gas Transmission and Transco pipelines. The project has secured 20-year service agreements with major oil and gas companies to supply LNG for all of the terminal’s capacity. In addition to GE Energy Financial Services, the terminal’s owners are a subsidiary of El Paso Corporation (NYSE: EP), which is managing construction and will operate the facility, and Sonangol, Angola’s state-owned national oil company.

“Our investment in an asset that will form part of the nation’s energy backbone reflects our strategy of supporting growing businesses, helping to meet energy demand and drawing on the pillar of GE’s strength and expertise in energy,” said Dan Castagnola, a managing director of GE Energy Financial Services in Houston. “Representing our expansion into LNG, this transaction complements our investment in US natural gas pipelines – 30,000 miles of pipelines in North America – that help ensure a steady supply of clean, efficient energy.”

The Port of Pascagoula will benefit from lease payments from the terminal, along with port fees and payments from LNG vessels. In addition, the project’s owners expect that once operational, the terminal will offer up to 60 full-time jobs.

LNG is natural gas that is cooled to minus 260-degrees Fahrenheit and condensed into a liquid. The process reduces the fuel’s volume, making it more economical to ship from countries with natural gas surpluses. Natural gas accounts for a quarter of US energy requirements.

For more information about the project, see elpaso.com/gulflng.

About GE Energy Financial Services

GE Energy Financial Services’ experts invest globally with a long-term view, backed by the best of GE’s technical know-how, financial strength and rigorous risk management, across the capital spectrum, in one of the world’s most capital-intensive industries, energy. GE Energy Financial Services (geenergyfinancialservices.com) helps its customers and GE grow through new investments, strong partnerships and optimization of its $23 billion in assets. GE Energy Financial Services is based in Stamford, Connecticut.

About GE

GE (NYSE: GE) is a diversified infrastructure, finance and media company taking on the world’s toughest challenges. From aircraft engines and power generation to financial services, medical imaging, and television programming, GE operates in more than 100 countries and employs about 300,000 people worldwide. For more information, visit ge.com/.

 
 
Your Banner Ad Here instead - Showing along with ALL Articles covering Energy Announcements

Replace these Affiliate Programs at ANYTIME! Your banner here within the next hour. Learn How!


 

Written by / Agency / Source: General Electric Company

 
 

Availability: All Regions (Including Int'l)

 

Traffic Booster: [/] Quick Newswire Today Visibility Checker

 

Distribution / Indexing: [+] / [Company listed above is a registered member of our network. Content made possible by PRZOOM / PRTODAY indexing services]

 
 
# # #
 
 
  Your Banner Ad showing on ALL
Energy articles,
CATCH Visitors via Your Competitors Announcements!


GE’s Energy Investing Unit Pumps $150 Million into Liquefied Natural Gas Terminal - Expanding Core US Infrastructure

Company website links NOT available to basic submissions
It is OK to republish and/or LINK any newswire for any legitimate media purpose as long as you name Newswire Today and LINK as the source.
 
  Is this your article?
Activate ALL web links and social stream by Upgrading to Press Release PREMIUM Plan Now!

GE News Center | GE Energy Financial Serv.
Publisher Contact: Andy Katell - GE Energy Financial Serv. 
+1 203 961 5773 andrew.katell[.]ge.com
 
Newswire Today - PRZOOM / PRTODAY disclaims any content contained in this article. If you need/wish to contact the company who published the current release, you will need to contact them - NOT us. Issuers of articles are solely responsible for the accuracy of their content. Our complete disclaimer appears here.
IMPORTANT INFORMATION: Issuance, publication or distribution of this press release in certain jurisdictions could be subject to restrictions. The recipient of this press release is responsible for using this press release and the information herein in accordance with the applicable rules and regulations in the particular jurisdiction. This press release does not constitute an offer or an offering to acquire or subscribe for any General Electric Company securities in any jurisdiction including any other companies listed or named in this release.

Energy via RSSAdd NewswireToday - PRZOOM Headline News to FeedBurner
Find who RetweetFollow @NewswireTODAY



Are you the owner of this article?, Turn it PREMIUM with your LOGO instead - and make it 3rd party Ads-Free! within the next hour!


Read Latest Articles From General Electric Company / Company Profile


Read Energy Most Recent Related Newswires:

PJB Spearheads Digital Energy for Indonesia with Deployment of GE Digital Power Plant Software
GE and Maersk Drilling Accelerate their Digital Partnership to Drive Industry Transformation
GE to Provide Digitally-enabled HA Power Plant and Services for Mexico's Tierra Mojada Project
Cisco and Enel Sign Agreement on Digitisation and Innovative Services
Enel and Seedstars Sign Cooperation Agreement to Identify Innovative Energy Access Startups in Africa
ENGIE Launches its First Ephemeral Campus
Enel Signs Agreement with US Company Amber Kinetics on Innovative Flywheel Storage System
Alternative Fuels, Carrefour and ENGIE are Joining Forces to Develop Biomethane in France
GE Renewable Energy and Fortum Sverige AB Sign Digital Hydro Pilot Agreement
GE Renewable Energy Announces Agreement to Provide Cube Hydro with Aerating Turbines
GE Oil & Gas and Eni East Africa Sign Long-term Partnership to Develop Gas Resources Offshore of Mozambique
RWE Turns to GE to Improve Flexibility and Performance
Liquefied Gas Pump Market to Record an Exponential CAGR by 2026 According to Persistence Market Research
GE and Solairedirect India Partner for the Next 25 Years
ENGIE Wins Major Contract with Transport for London

Boost Your Social Network
& Crowdfunding Campaigns


LIFETIME SOCIAL MEDIA WALL
NewswireToday Celebrates 10 Years in Business


PREMIUM Members


Visit  JobsWare.com

Visit  Rapid Recovery





 
  ©2017 Newswire Today — Limelon Advertising, Co.
Home | About | Advertise/Pricing | Contact | Investors | Privacy/TOS | Sitemap | FRANCAIS
newswire, PR press releases distribution service magazines engine news alert newsroom press room breaking news public relations articles company news alerts newswiredistribution ezine bizentrepreneur biznewstoday digital business report market search pr firms agencies reports distri-bution today investor relation successful internet entrepreneurs newswire distribution prtoday.com freenewswiredistribution asianewstoday bizwiretoday USA pr UK today - NOT affiliated with PRNewswire as we declined their partnership offer in 2013
 
PRTODAY & NewswireTODAY are NOT affiliated with USA TODAY (usatoday.com)