Exxon Plans $1B Floating Refinery

Platform 4 miles off New Jersey would supply natural gas for 5M

By Jim O'Neill,  Newser User

Posted Dec 12, 2007 8:51 AM CST

(Newser) – In an effort to bypass project-stalling terrestrial opposition, Exxon yesterday said it plans a $1 billion floating liquid natural-gas refinery 20 miles off New Jersey's coast, Market Watch reports. The project, which could open by 2015, would supply enough natural gas for 5 million residential customers in New York and New Jersey. Exxon says the plant won’t be visible from shore.

The project already has drawn favorable response from environmentalists who believe natural gas is cleaner than coal, and support the offshore location as safer from terrorism. The facility, called BlueOcean Energy, would receive twice-weekly seaborne deliveries of liquid natural gas, convert it to natural gas and pipe it to New Jersey. Exxon plans three similar refineries around the world.

The liquefied natural gas tanker Inigo Tapias makes its way through Boston Harbor past downtown Boston in this Jan. 24, 2004 file photo. While the energy industry regards liquid natural gas as a vital...   (Associated Press)
Map locates probable mainland depot of subsea pipeline from floating liquid natural gas terminal.   (Associated Press)
« Prev« Prev | Next »Next » Slideshow
To report an error on this story, notify our editors.

Other Sites We Like:   The Street   |   MSN Living   |   PopSugar Tech   |   RealClear   |   24/7 Wall St.   |   Biography   |   Barstool Sports   |   OK!