Pointe LNG Terminal

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Pointe LNG Terminal is a proposed LNG terminal in Louisiana, United States. There have been no project updates in over two years, and the project is presumed shelved as of 2022.

Location

Mile 46 in Plaquemines Parish, Louisiana, United States.

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Project Details

• Owner: Pointe LNG, LLC, Pointe Pipeline Company, LLC
• Parents: Pointe LNG, LLC, Pointe Pipeline Company, LLC
• Location: Mile 46, Plaquemines Parish, Louisiana, United States
• Coordinates: 29.859605, -89.991638 (approximate)
• Type: Export
• Trains: 3
• Capacity: 6 mtpa, 0.86 bcfd (2 mtpa per train)
• Status: Shelved
• FID Status: Pre-FID (2022)
• Cost: US$4 billion
• Financing: Whitehall & Co. is financial adviser
• Start Year: 2026
• Associated Infrastructure: Tennessee Gas Pipeline and Southern Natural Gas (SNG) Pipeline

Note: mtpa = million tonnes per year; bcfd = billion cubic feet per day

Background

In 2015, a LNG export terminal was proposed at the site of Pointe LNG Terminal and was originally named Louisiana LNG Terminal, after the original developer, Louisiana LNG Energy LLC. Development stalled in 2015 when Louisiana LNG Energy LLC was acquired by Parallax Enterprises LLC, and Cheniere Energy Inc. began co-sponsoring the project. Relationships soured for other reasons and FERC terminated the project's pre-filing review due to inaction. After Parallax and Cheniere failed to continue development, Pointe LNG, LLC rebranded the project.

Pointe LNG has chosen a 600-acre site on the East bank of the Mississippi River (Left Descending Bank) at Mile Mark 46, in Plaquemines Parish, Louisiana. It will include oversized storage tanks and dock for possible future growth, as well as a pipeline, and a liquefaction plant. The Anticipated costs for 6 mtpa is estimated at US$535 per ton. The project is expected to be supplied by Kinder Morgan's existing Tennessee Gas Pipeline and Southern Natural Gas (SNG) Pipeline.

In February of 2019, FERC issued a Notice of Intent to prepare an Environmental Impact Statement (EIS). As of June 2020, the project remains in the prefiling phase with FERC. A final investment decision is projected to take place in 2022, following which the terminal would potentially be operational by 2026.

In December 2020, Pointe LNG disclosed that it had a letter of intent from a customer to buy 1.5 million tons of LNG per year. The company declined to disclose the buyer, citing a confidentiality agreement.

In November 2021, FERC terminated a pre-filing review for the export terminal, citing a no progress since 2018.

There have been no project updates in over two years, and the project is presumed shelved as of 2022.

Financing

In May 2020, Pointe LNG hired Whitehall & Co. as financial adviser, tasked with raising US$4 billion from investors for the project's realization. An initial US$56 million of development capital is to be raised from investors by the third quarter of 2020. Whitehall & Co. has also been tasked with securing offtake agreements for the project. By the end of 2020, Pointe LNG said it had received letters of intent for 45% of the project equity. As of May 2021, there were no reported finance developments concerning the project.

After FERC terminated a pre-filing review for the project in November 2021, a co-founder of the project stated that Pointe LNG was raising funds to complete the permitting process and reach a FID within 24 months thereafter.