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
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)
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(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.