Apparently Strom Inc. of the long-touted future LNG export operation in Crystal River, Florida, thinks some public company is so desperate for cash that it will let Strom take over its board for money.
“Additionally, Strom, Inc. is actively in early stage negotiations with a third-party entity regarding a reverse-merger and anticipate filing a report upon completion.”
What money? From a “term-sheet agreement” from un-named financiers that Strom has been claiming since at least April 2020. Lots of big talk, little LNG export action. Which is good news for Crystal River and Tampa, since the most likely export route for Strom would be by truck to Port of Tampa.
Strom also has big plans for exporting to “China, Latin America, and several Caribbean countries.”
“Specifically, Strom has received specific interest from LNG users in the Bahamas, China, Belize, Panama, Mexico, Dominican Republic, Honduras and is pursuing all qualified leads. These requests for LNG will far exceed Strom’s authorized capacity, and we will explore our options as we execute agreements. In accordance with Ordering Paragraph D of the Order, Strom will file any such long—term contracts with the DOE/FE following their execution.”
Specifically, interest is not a contract.
This is interesting:
“Strom has secured certain preliminary agreements for equipment and has selected AECOM to fill the role of our EPCM for the Project. AECOM is well versed in Oil and Gas and has been involved in a myriad of FERC approved Oil and Gas projects.”
Yes, AECOM was involved in for instance Elba Island LNG in Georgia.
But Strom LNG in Crystal River, FL, is not a FERC-approved project. Back in 2014 when Strom still planned to locate in Starke, FL, Strom filed with FERC for a Notice of Petition for Declaratory Order re Strom, Inc. under CP14-121. But FERC dismissed that request for lack of fee payment. No other FERC docket for Strom has appeared, so apparently Strom has neither FERC approval nor a declaratory order for Strom’s “mobile liquefaction unit be eligible to export LNG with exemption from FERC’s jurisdiction under the Natural Gas Act.”