Worlds first Offshore LNG receiving Terminal to be based on the STL System.
18 December 2003
The STL - Submerged Turret Loading Buoy System, which is well proven in the North Sea for Offshore Loading of Crude Oil, is now developed for regas LNG and is scheduled to be an integral part of the worlds first Offshore LNG Receiving Terminal:
Excelerate Energy, LLC, a Woodlands, Tx.-based liquefied natural gas (LNG) shipper and marketer, announced Wednesday December 17 that its operating unit, Excelerate Energy LP has signed definitive agreements with El Paso Corporation related to El Paso's Energy Bridge offshore LNG regasficiation assets and technology.
Excelerate also announced complementary transactions with Belgian ship owner Exmar NV, which currently has two Energy Bridge vessels under construction at the Daewoo Shipbuilding and Marine Engineering shipyard in South Korea.
A proposed Gulf of Mexico Deepwater Port, which will be located 116 miles offshore Louisiana, will be capable of delivering baseload gas volumes in excess of 500 million cubic feet per day. The Energy Bridge port will be the first offshore LNG regasification terminal in the world and is scheduled to be capable of supplying natural gas to the U.S. market by late 2004 or early 2005.
The agreements between El Paso and Excelerate also allow Advanced Production and Loading AS of Norway (APL) to proceed with the manufacture and installation of their submerged buoy system (STL(tm)) that will be an integral component of the Gulf of Mexico Energy Bridge LNG receiving terminal.
Jens Kaalstad, president of APL, Inc, APL's U.S. operation, said, ``We are pleased that Excelerate will carry on the Energy Bridge initiative and are proud that our STL technology will be deployed as part of the world's first offshore LNG receiving terminal. This technology will add considerable flexibility to the LNG market.
