Sabine Pass LNG LP has applied with the Federal Energy Regulatory Commission (FERC) to re-export foreign LNG imported to the Sabine Pass terminal in Cameron Parish, La.
A subsidiary of Cheniere LNG and operator of the Sabine Pass liquefied natural gas (LNG) terminal, Sabine Pass said it was requesting permission to re-export LNG due to increasing worldwide demand for LNG in European and Asian markets.
Relatively high prices, which have resulted in a decrease in deliveries of LNG to the US, are also attributed as reasons for the request according to the EnergyCurrent news service.
Sabine Pass said its proposal would provide customers of the Sabine Pass terminal the opportunity to purchase cargoes of LNG at current LNG world market prices that may be higher than prices in US markets, with the intent that such LNG subsequently could be exported for redelivery to a foreign market at a later date.
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