January 19, 2005

ConocoPhillips files offshore LNG terminal application

The number of proposed U.S. LNG terminals just keeps growing. ConocoPhillips [NYSE:COP] today announced that it has submitted an application to the U.S. Coast Guard for construction of a new offshore liquefied natural gas (LNG) regasification facility.

The proposed Beacon Port Clean Energy Terminal is planned to be located in federal waters, 56 miles south of the Louisiana mainland.

This state-of-the-art facility will offload LNG from carriers, store and regasify the LNG, then make the natural gas available through a system of pipelines for delivery to consumers in Louisiana and beyond.

The facility will have a throughput capacity of 1.5 billion cubic feet of gas per day.

Beacon Port is planned to consist of two concrete gravity-based LNG storage tanks, regasification equipment, docking platforms and other unloading and operational equipment.

A separate platform, adjacent to the tanks, will house the terminal's crew and various equipment and non-operational facilities.

Beacon Port will send gas to the mainland through 46 miles of new pipeline and a riser platform that will connect to existing pipelines approximately 29 miles south-southeast of Johnson's Bayou, La. Existing pipelines will bring the gas to shore.

Construction could begin in late 2006 and will take approximately four years. It is anticipated that the first shipment of LNG to the facility could be delivered in 2010.

ConocoPhillips is also developing or has proposed other U.S. regasification facilities in Freeport, Texas, and offshore Alabama.

ConocoPhillips has an active liquefaction facility in Kenai, Alaska, as well as others at various stages of development around the world, including Australia, Nigeria, Qatar, Russia and Venezuela.



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