Cheniere Energy said Tuesday that it plans to spend $6.5 billion in the construction of a previously announced facility at its Sabine Pass terminal in Cameron Parish that will convert natural gas into a liquid for export.
The project will create about 148 new jobs in the area, where annual compensation, including benefits will be about $100,000, Louisiana’s economic development department said.
The new Cheniere facility is planned at the Louisiana-Texas border in Cameron Parish to handle the shipment of liquefied natural gas, or LNG, from the company’s international LNG terminal.
Cheniere Energy anticipates construction will begin in early 2012, with hiring for the new permanent jobs beginning in 2014. The company will begin operations at the liquefaction facility in 2015, and the second phase of the project is expected to be completed by the end of 2018, LED reported. Adding liquefaction capabilities will transform the Sabine Pass terminal into a bi-directional facility capable of exporting LNG in addition to receiving LNG for regasification.
The improved facility is largely the by-product of the highly-productive Haynesville Shale natural gas find in northwest Louisiana.