By OGJ editors
HOUSTON, Mar. 29 -- Neptune LNG LLC, a subsidiary of SUEZ Energy North America Inc., has received a deepwater port license from the US Maritime Administration for its Neptune offshore LNG facility in Massachusetts Bay.
Demand for natural gas in New England is expected to increase by 1-2%/year over the next 2 decades, with Massachusetts alone accounting for half of the region's gas consumption. At this rate of growth, without new capacity, the region could face a shortage of gas approaching 14.1 million cu m/day in 2010.
The Neptune project is expected to provide 11.3-21.2 million cu m/day of gas, enough to serve 1.5-3 million homes/day in the Massachusetts and New England area, Suez said.
Neptune LNG estimates that the facility will be fully operational by 2009. Also at that time, the company anticipates completing construction of a lateral pipeline connection to HubLine.
Suez has received firm commitment from Hoegh LNG AS, Mitsui OSK Lines Ltd., and Samsung Heavy Industries that two specially designed LNG regasification vessels will be delivered by the project's targeted start-up date.