Natural gas production and midstream firm El Paso has announced that its subsidiary has closed the previously announced acquisition of a 50% interest in the Gulf LNG Clean Energy project, a liquefied natural gas terminal, which is currently under construction in Pascagoula, Mississippi.
A subsidiary of El Paso is managing the facility’s construction and will operate the facility upon completion. The liquefied natural gas (LNG) terminal is expected to be placed in service in late 2011 at an estimated total cost of $1.1 billion.
Jim Yardley, president of El Paso’s pipeline group, said: This project continues El Paso’s long history with LNG. We look forward to working with our partners in this important venture to provide additional sources of clean burning natural gas to the region and beyond.