California Dreamin' over first floating LNG terminal

BHP Billiton has filed an application under the Deepwater Ports Act with the US Coast Guard and Maritime Administration along with an application for a land lease with the California State Lands Commission to build a $550m LNG terminal off the coast of California.The floating terminal will be built in deep water about 20 miles from the coastal city of Oxnard and will supply 800m ft3 per day of LNG to California Ð about 15 per cent of the StateÕs gas demand. BHP hopes to complete the project in 2008.