Exxon Plans Floating Terminal to Power New York

ExxonMobil has initiated plans to build a US$1bn floating LNG terminal off the coast of New Jersey and New York that will supply 1.2 billion cubic feet of natural gas to residents of both cities.

The BlueOcean terminal will take gas from LNG tankers and transfer it to existing mainland pipelines using a subsea pipeline.

The project is awaiting State and Federal permission, along with approval from the US Maritime Administration and the US Coast Guard.

ExxonMobil Gas & Power marketing vice president Ron Billings says the project, if allowed to go ahead, will help improve gas security in the region while reducing demand from coal-fired power plants.

"We believe BlueOcean Energy is a unique and innovative solution to meeting the region's energy challenges," Billings says.

By Penny Jones