- Cheniere Energy (NYSEMKT:LNG) will move forward with a $550M export terminal in Texas that will ship processed condensate to international markets, a top executive says today at an energy conference.
- "The reason why we're going ahead with that project is we think that we will have unfettered crude oil exports in U.S at some point, and there aren't the sort of logistics for the crude to exit the United States," says Nelson Lee, the company's director of crude trading and origination.
- Lee says the terminal, scheduled to start up in 2017, will have 2M barrels of oil storage and dock infrastructure that can accommodate Aframax-sized tankers.
- Cheniere also is building liquefied natural gas export terminals in Corpus Christi, Tex., and Cameron, La.