Small firm takes lead in California LNG plan - April 13, 2003

Providing coverage of Alaska and northern Canada's oil and gas industryApril 2003

Vol. 8, No. 15

Week of April 13, 2003

Small firm takes lead in California LNG plan

Gary Park, Petroleum News Calgary correspondent

Privately owned Crystal Energy of California is pressing ahead with plans for a liquefied natural gas terminal offshore Ventura County, Calif.

The small company has struck a long-term lease with Venoco to build the terminal on a dormant producing platform that is capable of handling 200 billion cubic feet per year, or about one-quarter of California’s residential energy consumption.

Crystal has estimated the cost of readying the platform for LNG at $125 million over three years.

Although construction costs for the offshore terminal would be up to five times cheaper than a land-based facility, Crystal has indicated it expects opposition from Ventura residents and businesses.

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