Word: lng
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Dates: during 1970-1979
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...import. For example, Algeria, which has taken the lead in trying to boost exports to the U.S., is spending billions of dollars to build six liquefaction plants, but they are not expected to be fully operational for a decade. These facilities freeze the fuel into liquid natural gas (LNG), which is then loaded on specially constructed tankers that cost up to $150 million each...
...fleet of nine newly constructed LNG ships owned by El Paso Natural Gas Co. will begin carrying gas from Arzew, Algeria, to Cove Point, Md., and Elba Island, Ga., early next year. That gas, for which El Paso signed a contract before the Arab oil embargo, will sell in the U.S. for about $1.25 per 1,000 cu. ft., v. a top federally controlled price of $1.44 for domestic gas shipped across state lines and $2 or more for uncontrolled intrastate gas. Algerian gas bought under a postembargo agreement, however, will cost Americans...
Another drawback to increased gas imports is the danger of a ship spilling some of its cargo in or near a port. That could result in a catastrophe far worse than the oil spills from tankers that have worried many Americans this winter. As the frozen LNG warms into gas, it could ignite, creating an immense fireball threatening lives and property in the vicinity. Last year New York, New Jersey, Delaware and other coastal states petitioned the Federal Power Commission to promulgate national safety standards that would keep LNG port facilities out of populous areas. The agency is still considering...
...sounds of shattering champagne bottles will echo through shipyards from Bath, Me., to San Diego. Last month Commerce Department officials signed the two biggest commercial shipbuilding contracts in U.S. history. Both were for new types of ships called LNG tankers, which will carry huge quantities of liquefied natural gas from Algeria and perhaps Russia. One of the orders, for $269 million, went to General Dynamics; the federal share, which is less for advanced-technology ships like LNGS than for other models, is $64 million. The other order, for $298 million (federal share: $76 million) was bagged by Newport News Shipbuilding...
...which generally holds that goods and services should be supplied to the world by the countries that can produce them most economically and efficiently. Shipbuilders contend that the federal assistance will eventually make U.S. firms competitive in selling some kinds of vessels, especially sophisticated, computer-run models like the LNG. Some kind of cost breakthrough is undoubtedly necessary to make U.S. products salable overseas, but no such hopes really exist for many of the less advanced ships that are now subsidized...