The Calhoun Port Authority has entered into a long-term lease agreement with Gulf Coast LNG for 150-acre of port-owned property that will be the site of the proposed Calhoun LNG Terminal project. The property is located on the southwestern edge of the Point Comfort Turning Basin.
Calhoun LNG is seeking permits from the Federal Energy Regulatory Commission that would allow the construction of an LNG ship dock, two large LNG storage tanks and a re-gasification facility.
Calhoun LNG has announced that it has partnered with the consortium of KOGAS, LG International and Houston-based EMS Group to be the operator for the Calhoun LNG Terminal. The consortium has also agreed to participate as an equity owner in the Calhoun LNG Terminal. KOGAS is the world's largest buyer of LNG and the largest operator of LNG re-gasification terminals.
The Port Authority board of directors previously approved a resolution expressing their willingness to issue industrial revenue bonds to finance the Calhoun LNG project. If issued, the bonds would be sold with the backing of terminal users and with no obligation on the part of Calhoun County taxpayers.
