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El Paso Unit Asks US Energy Department For LNG Export Authorization

HOUSTON -(Dow Jones)- A subsidiary of El Paso Corp. (EP) has requested U.S. Department of Energy's blessing to export liquefied natural gas from a terminal off the coast of Georgia. In a letter filed Tuesday, Southern LNG Company LLC said it sought the authorization to export up to half a billion cubic feet per day from its LNG terminal in Savannah, Ga., to any country that has a free-trade agreement with the U.S. Southern also intends to file a separate request to send LNG to countries that don't have a free-trade agreement with the U.S. The move, which follows similar requests by other owners of LNG terminals across the U.S., underscores the dramatic shift that natural gas shale production has created in the country's energy market. LNG terminals were built at great cost during the last decade when investors thought the U.S. would suffer a natural gas shortage, but the abundance of gas unleashed by hydraulic fracturing has rendered them mostly idle. The Energy Dept. has already authorized Cheniere Energy Inc. (LNG) to export LNG from its terminal in Sabine Pass, La. Its first LNG exports are expected towards the middle of this decade. Natural gas producers in the U.S. hope that LNG exports will create new markets for their commodity, which has recently seen decade-low price levels due to its abundance. -By Angel Gonzalez, Dow Jones Newswires; 713-547-9214; angel.gonzalez@dowjones.com

Stock News for El Paso (EP)
DateTimeHeadline
05/24/201211:20:53Kinder Morgan, Completing El Paso Deal, Sees Higher Savings
05/21/201214:05:10PG&E Names El Paso Veteran To Gas Pipeline Team
05/18/201217:41:35El Paso Unit Asks US Energy Department For LNG Export Authorization
05/18/201208:51:14El Paso Pipeline To Pay $635 Million To Acquire Midstream Assets...
05/17/201218:50:57Kinder Morgan To Replace El Paso In S&P 500 Next Week
05/15/201219:31:42Icahn No Longer Reports Stakes In El Paso, Motorola Solutions
05/03/201209:19:15El Paso 1Q Net Up 39%; El Paso Pipeline Income Up 17%
05/02/201213:38:30Applications Given Early Antitrust Clearance
05/01/201214:13:52FTC: Kinder Morgan Must Sell 3 Rocky Mountain Pipelines For El...
04/25/201217:30:36Kinder Morgan To Buy 50% Interest In Natural-Gas JV From KKR
04/19/201201:02:42CORRECT(4/18): Kinder Morgan Energy 1Q Profit Drops 39%
04/18/201218:16:21El Paso To Sell Some Midstream Assets To Pipeline Partnership
03/20/201221:51:12Korea National Oil: Part Of Group Acquiring El Paso Oil Assets
03/19/201216:06:12FILLFILLFILL*Korea National Oil Corp A Partner In El Paso E&P...
03/15/201210:06:54Kinder Morgan To Sell Some Pipeline Assets For FTC OK Of El Paso...
03/09/201213:31:21El Paso Holders Overwhelmingly Approve Kinder Morgan Merger
03/05/201211:36:34El Paso Reschedules Kinder Morgan Merger Vote
02/27/201208:21:06El Paso 4Q Net More Than Doubles; El Paso Pipeline Earnings Up...
02/24/201219:24:11CORRECT: El Paso To Sell Exploration And Production Business...
02/24/201218:30:07El Paso To Sell Exploration And Production Business For $7.15...

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