Planned Florida LNG export port cancelled
24 July 2023
Nopetro Energy cites ‘market conditions’ for decision
Nopetro Energy, the company planning to build a containerized liquified natural gas export facility in Port St. Joe, Florida, says it will “no longer pursue the opportunity due to market conditions.”
Located on the Gulf Coast of the Florida panhandle, the Port of Port St. Joe is a deepwater seaport with a 1,900 linear foot bulkhead at the ship channel turning basin. Well-suited for bulk and cargo shipments, the port offers access to rail, the U.S. Gulf Intracoastal Waterway, state and U.S. highways.
As Nopetro planned it, the proposed facility would have been built on 60 acres in the heart of Port St. Joe on land owned by the St. Joe Company. Nopetro planned to purchase natural gas and bring it through two lateral pipelines from St. Joe Natural Gas, and operate three natural gas liquefaction trains to fill ISO shipping containers.
Nopetro said it determined that market conditions were inhospitable late last year.
Ed Hart, Nopetro’s senior vice president of supply, said in a statement, “In 2022, Nopetro Energy conducted due diligence on a site for a proposed natural gas plant in Port St. Joe. Many months ago, after completion of that process, Nopetro Energy decided to no longer pursue the opportunity, purely due to market conditions.”