Liberty Natural Gas to Provide Northeast With New Supply of Clean Burning Energy
May 20 2008 - 6:00AM
PR Newswire (US)
Clean, Safe and Efficient JERSEY CITY, N.J., May 20 /PRNewswire/ --
Excalibur Energy (USA) Inc., a 50/50 joint venture company between
Canadian Superior Energy Inc. ("Canadian Superior") (TSX: SNG)
(AMEX:SNG) and Global LNG Inc., a New York based privately held
company, announced today the launch of its $550 million Liberty
Natural Gas Transmission Project ("Liberty Natural Gas") as a new
source of natural gas to meet the growing energy demands of the
Northeast region. Liberty Natural Gas will be a deepwater pipeline
system that receives gas fifteen miles offshore New Jersey, which
subject to regulatory approvals, is expected to begin to deliver up
to 2.4 billion cubic feet per day of natural gas by late 2011.
Speaking in Jersey City today from Excalibur's head office, Roger
Whelan, President and Chief Executive Officer of Excalibur, said,
"We are launching our Liberty Natural Gas Project to meet the
growing energy needs of the Northeast US by delivering clean, safe
and efficient natural gas to New Jersey without compromising safety
or the clean waters off the Jersey shore. We will not create any
unsightly infrastructure visible from the shore. Energy shortages
will occur over the next few years unless new energy supplies are
provided before 2012. The US Energy Information Administration
projects that the region's growing population will need an
additional 30% more energy in the coming decades relative to the
current demand, with energy shortfalls beginning as soon as 2012.
On shore, Liberty Natural Gas would reach consumers through
existing or expanded natural gas infrastructure." Whelan further
commented, "We believe the Liberty Project is the energy project of
choice and has the public's concerns in mind. Our Liberty Project
has been developed over the last two years and included an
independent survey of 1,000 New York and New Jersey residents and
discussions with several key stakeholders in the area. We believe
we have identified the optimal low impact energy supply solution
for the Northeast region." Whelan continued, "Liberty Natural Gas
has been planned with great care for the air, greenhouse gases, the
water, marine life, and equally important, the safety of our
workforce and local residents in the region. This project is
essentially an offshore pipeline which will provide approximately
$550 million of new investment and needed jobs in the New Jersey
area to provide the area with clean, safe and efficient energy.
There are about 190,000 miles of onshore and offshore interstate
gas pipelines in the US; so, our approach is not groundbreaking in
the use of natural gas, but rather how we safely reach this rapidly
growing and important market to the US using a simple design.
Liberty Natural Gas is a bellwether project for the region.
Excalibur's management has a full complement of natural gas
development and commercial structuring experiences and the
integrated team that we have assembled for this project is one of
the best, if not the best in the Nation." Statements contained in
this news release relating to future results, events and
expectations are forward-looking statements within the meaning of
Section 27A of the Securities Act of 1933, as amended and Section
21E of the Securities Exchange Act of 1934, as amended. These
forward-looking statements involve known and unknown risks,
uncertainties, scheduling, re-scheduling, obtaining regulatory
approvals and other factors which may cause the actual results,
performance, estimates, projections, interpretations, prognoses,
schedules or achievements of the Corporation, or industry results,
to be materially different from any future results, performance or
achievements expressed or implied by such statements. Such factors
include, among others, those described in the Canadian Superior's
regulatory filings and annual reports on Form 40-F or Form 20-F on
file with the U.S. Securities and Exchange Commission. EXCALIBUR'S
LIBERTY NATURAL GAS PROJECT FACT SHEET 1. The Project consists of a
fully-submerged, offshore gas importation turret anchored to the
seafloor 15 miles off the coast of New Jersey, fifty miles of 36"
offshore pipeline, a directionally drilled underground shoreline
approach near South Amboy, and eleven miles of onshore pipeline in
an existing industrial corridor to Linden, New Jersey, where the
pipeline interconnects with existing gas pipelines. 2. Gas
transmission in the Linden, New Jersey, area totals more than 4
billion cubic feet per day. 3. The project, expected to cost $550
million, will have the capacity to provide up to 2.4 billion cubic
feet per day of natural gas and be ready by late 2011, will not
include any permanent floating vessels or artificial land masses or
rotating structures or storage facilities. 4. Excalibur will submit
the necessary government and regulatory applications in early 2009.
5. In 100 feet of water 15 miles offshore New Jersey, Liberty
Natural Gas will receive its supply of imported gas through
liquefied natural gas ("LNG") transport ships. These ships will
temporarily connect to permanently anchored turrets. The LNG will
be re-gasified to ambient temperatures onboard the ships and pumped
through the turrets into the pipeline. There will be no visible
structures from the shoreline, including the LNG ships that are
temporarily connected. 6. The natural gas offloading is
accomplished using a closed loop regasification system and marine
life will not be subjected to any temperature variances associated
with the process. Also, the seabed will only be disturbed during
the installation of the pipeline. Environmental impact surveys and
route selection studies to minimize this temporary impact are
ongoing. FOR FURTHER INFORMATION CONTACT: CAPITAL PUBLIC AFFAIRS,
INC. Steven E. Some - Jon R. Bombardieri Three Mapleton Road
Princeton, NJ 08540 (609) 514-2600 office (609) 933-5385 mobile
DATASOURCE: Excalibur Energy (USA) Inc. CONTACT: Steven E. Some or
Jon R. Bombardieri, both of Capital Public Affairs, Inc.,
+1-609-514-2600 office, +1-609-933-5385 mobile
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