McMoRan Counting on LNG Terminal to Halt Net Losses
Posted on Jun 18, 2007 in Markets and Competition, Regas Terminals & Capacity | Comments Off on McMoRan Counting on LNG Terminal to Halt Net Losses
McMoRan Exploration Co., which has lost money for four straight years largely due to the high costs of offshore gas exploration, is counting on its Main Pass Energy Hub project (approved by MARAD in January) to solidify its financial footing. A McMoRan spokesperson said the company’s current priority is to obtain supply contracts for the terminal. New Orleans City Business provides further details.