HOUSTON--(BUSINESS WIRE)--Parallax Energy (Parallax) announced today the acquisition of Louisiana LNG Energy, LLC (Louisiana LNG). This marks the second mid-scale natural gas liquefaction and export project undertaken by Parallax this year.
Louisiana LNG is being developed in Plaquemines Parish, southeast Louisiana, and is located on the East bank of the Mississippi River between New Orleans and Venice, Louisiana. Louisiana LNG initiated the Federal Energy Regulatory Commission (FERC) process in July 2014, and has applied for permits to export liquefied natural gas (LNG) to both Free Trade Agreement (FTA) and non-Free Trade Agreement (non-FTA) countries.
The first Parallax project, Live Oak LNG, was announced earlier this year and is located in Calcasieu Parish, on the west bank of the Calcasieu River in southwest Louisiana near Lake Charles. The facility is being designed for average production of five point two million tonnes per annum production and will include two storage tanks and marine loading berth. The start-up date is anticipated for late 2019.
“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.
Houston added, “One of our core tenets is ‘design it once and build it many times’. Louisiana LNG has a great head start and we are fortunate they selected the same technology and world class partners. We will be working with Bechtel on pre-engineering design and Chart for process design for both Louisiana LNG and Live Oak LNG. In addition, both projects have great locations with excellent pipeline supply and deep water access.”
About Parallax Energy LLC
Parallax is an energy firm that is developing global liquefied natural gas (LNG) projects. With access to over 100 years of combined experience in the energy industry, Parallax has expertise in every aspect of the LNG chain from upstream gas supply, trading, liquefaction to shipping and marketing. Parallax Energy’s headquarters is located at 1201 Louisiana, Suite 580, Houston, Texas 77002.
For more information, please see the company’s website at www.parallaxenergy.com.
For more information on Live Oak LNG, please see www.liveoaklng.com.
For more information on Louisiana LNG, please see www.louisianalngenergy.com.
