Louisiana LNG Energy LLC, a liquefied natural gas export project planned in Plaquemines Parish, has been acquired by Houston-based Parallax Energy.
Terms of the deal were not disclosed.
“The addition of Louisiana LNG to our company sets the Parallax strategy firmly into motion. We have an innovative, efficient and cost-effective way to safely produce what customers want — smaller amounts of LNG that they can purchase incrementally,” said Martin J. Houston, founding partner and chairman of Parallax.
In February 2014, Louisiana LNG asked the Federal Energy Regulatory Commission for permission to export 2.2 million tons of liquefied natural gas a year for the next 25 years. In May 2014, the company said it had secured funding from an affiliate of ArcLight Capital Partners LLC for the export terminal. The project was originally expected to be online in late 2017.
The proposed facility is the second LNG project Parallax has announced this year. The first, Live Oak LNG, is planned in Calcasieu Parish and could produce 5.7 million tons of LNG per year.
Houston said Parallax will work with Bechtel on pre-engineering design and Chart for process design for both projects.