ANOTHER UPDATE ON GTL IN LOUISIANA
In yet another example of industry exploring gas-to-liquids ("GTL") technology as a way to take advantage of abundant natural gas supplies, on January 15, Louisiana Economic Development announced preliminary plans for yet another GTL facility in Southwest Louisiana. G2X Energy Inc. is conducting a feasibility analysis for a $1.3 billion facility. This comes fresh off the heels of the announcement of the Sasol GTL facility discussed in the previous post on this site. Unlike the planned Sasol facility, which will convert natural gas into diesel, the G2X Energy facility would convert natural gas into gasoline.
LED estimates that the G2X Energy project would create 243 new direct jobs and 748 new indirect jobs. Just like with the Sasol facility, state incentives are playing a major role in attracting the potential development. The package Louisiana has offered the company includes a $5 million performance-based grant for infrastructure improvements at the Port of Lake Charles. G2X Energy also could potentially enjoy payroll and other tax rebates through the Louisiana Quality Jobs Program, and a property tax abatement through the Louisiana Industrial Tax Exemption Program.
The Louisiana Economic Development announcement is available at: http://www.louisianaeconomicdevelopment.com/led-news/news-releases/g2x-energy-announces-plans-for-$13-billion-natural-gas-to-gasoline-facility-in-southwest-louisiana.aspx?c=News Releases&id=39.