BRUSSELS (Thomson Financial) - Utility Suez's energy unit said its subsidiary Neptune LNG LLC has received all necessary permits from US state government authorities to begin construction of its offshore liquefied natural gas (LNG) distribution system in Massachusetts Bay.
The group also said it has entered into three 'major' contracts exceeding 10 mln usd with Owner's Engineer, INTEC Engineering and Seaforth Engineering to produce components used in the project.
Neptune anticipates having a fully operational project, including construction of a pipeline connection, ships and a buoy system, to supply LNG in Massachusetts and the rest of New England from 2009.
The Neptune project -- costing approximately 1 bln eur -- is expected to provide between 11.3 and 21.2 mln square metres of natural gas per day. This would be enough to serve 1.5 mln to 3 mln homes daily. simon.zekaria@thomson.com sz/ejb COPYRIGHT Copyright AFX News Limited 2007. All rights reserved. The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News.