4Gas said that it has acquired the Vista del Sol LNG terminal and pipeline project. 4Gas bought Vista del Sol Terminal LP and Vista del Sol Pipeline LP from ExxonMobil simultaneously with the purchase of the 300-acre site for the project from DuPont. The DuPont transaction was disclosed in a Nov. 9, 2007, announcement.
Vista del Sol is a FERC-approved LNG terminal and related natural gas pipeline project. The terminal will be located on the La Quinta Ship Channel near Ingleside, Texas. The site offers deepwater channel access capable of handling LNG ships with cargo capacity up to 250,000 m3. The Vista del Sol terminal will have an initial regasification capacity of 10 billion cubic meters per annum (bcma) or 1.1 billion cubic feet a day (bcfd). It encompasses three 155,000 m3 full containment LNG storage tanks, delivering a peak send-out capacity of 14 bcma (or 1.4 bcfd). The expansion option for the terminal allows for up to five 155,000 m3 storage tanks and a send-out capacity of 20 bcma (or 2.0 bcfd). The space for the second berth will be pre-dredged as part of the initial development.
The terminal will be connected to a 25.3 mile, 36 inch diameter header pipeline with possible connections to six interstate and two intrastate natural gas pipelines. The terminal's unique location enables Vista del Sol to deliver natural gas to local Corpus Christi industrial businesses, utilities and merchant power generators who require substantial volumes of natural gas as well as multiple access points into Texas (the largest gas-consuming state in the US) and other US natural gas markets.
In addition to the FERC permits, the Vista del Sol entities hold the other necessary major permits to implement the project, including approvals from the US Army Corps of Engineers and the State of Texas.
With Vista del Sol added to the 4Gas North American asset portfolio, 4Gas offers access to both the US Gulf Coast and the Northeast (via Maple LNG) Canadian and US natural gas markets. The Vista del Sol and Maple LNG Terminals can serve North America's largest and most liquid natural gas markets, command premium regional markets in different and complementary seasons, and provide coordinated strategies with 4Gas's other global independent LNG import terminals.
4Gas is dedicated to developing and operating LNG import, regasification and storage terminals around the world. It is the world's only independent company with a focus on LNG and a global footprint. Current projects include Dragon LNG in Milford Haven, Wales; the LionGas project in Rotterdam, The Netherlands; the Pegaz LNG project near Bordeaux, France; the MapleLNG project in Nova Scotia, Canada; and the Vista del Sol project near Corpus Christi, Texas, USA. 4Gas has offices in Rotterdam (HQ), London, Houston, Halifax, Paris, Jakarta, Bordeaux, Moscow, Islamabad, Abuja and Hong Kong.