By CASSANDRA SWEET
Sempra Energy expects to get federal permission to build facilities to export natural gas in Louisiana, and the company will be ready to start construction in early 2014, the company's top executive said Tuesday.
Sempra plans to modify its existing natural-gas import terminal in Louisiana to be able to convert gas produced in the US into liquid form to be exported overseas.
The company applied in December with the Federal Energy Regulatory Commission for approval of the project, and it expects to obtain the agency's approval by the end of this year, said Sempra CEO Debra Reed.
The gas-export terminal is designed to export up to 12 million tpy of natural gas and is estimated to cost between $6 billion and $7 billion, Ms. Reed said.
Sempra plans to select a contractor to build the project and be ready to start construction in early 2014, Ms. Reed said.
The company plans to complete construction and start operating the terminal in late 2017, Ms. Reed said.
Dow Jones Newswires