By the OGJ Online Staff
HOUSTON, May 17 -- BG Group PLC has agreed to take all available capacity at CMS Energy Corp.'s liquefied natural gas import terminal at Lake Charles, La., for 22 years starting Jan. 1, 2002.
The terminal can store and vaporize 6.3 bcf. It can deliver 630 MMcfd of gas and has access to 15 interstate gas pipelines.
BG will have 80% of the capacity of the terminal until Aug. 31, 2005, and 100% thereafter.
BG said the agreement will allow it to supply growing markets throughout the US and provide an outlet for its developing LNG export projects around the world.
The Lake Charles facility, which BG said is the largest in North America, receives gas from Africa, Asia, Australia, Europe, and South America.
The value of the contract was not disclosed, but CMS said it has firmed up present value revenues totaling $450 million from the facility.