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Excelerate cancels FERC LNG export application

Houston-based Excelerate Energy has cancelled its floating liquefaction project in Texas as crude prices remain low and energy companies cut back on capital expenditure.
By Staff reporter 3 September 2015 Americas / LNG 0 17373

Houston-based Excelerate Energy has cancelled its floating liquefaction project in Texas as crude prices remain low and energy companies cut back on capital expenditure.

Last December, Excelerate asked the Federal Energy Regulatory Commission (FERC) to suspend work on its application for a 39 million cubic metre per day floating liquefaction facility at Port Lavaca, Texas until at least 1 April – citing economics.

However, this week it asked FERC to withdraw its application.