Cheniere Energy’s natural gas liquefaction project currently underway in Cameron Parish will bring billions of dollars to Louisiana.
The Sabine Pass facility, set to begin production in the latter half of 2015, is already 76 percent complete with the first phase of the project’s development, according to Cole Avery for the Times-Picayune. The project carries a $20 billion price tag and will be the largest liquefied natural gas (LNG) facility in the state. The plant will have access to deepwater ships and LNG exportation, making its location ideal.
The project is part of a projected $100 billion in investments making their way to the state, indicating a massive growth in Louisiana’s energy sector. The Sabine Pass facility will generate 18,300 jobs at the peak of construction, and as businesses grow with the plant, a whopping $3.3 billion in wages is expected to go to Louisianans. The state will also collect approximately $230 million in additional taxes over the next eight years.