Exxon plans natural gas terminal off N.J.

IRVING, Texas, Dec. 12 (UPI) -- Exxon Mobil Corp. plans to build a $1 billion floating natural gas terminal 20 miles off the New Jersey coast, the multinational U.S. energy giant said.

The boatlike terminal, dubbed BlueOcean Energy, would be the first East Coast terminal to handle liquefied natural gas built in three decades.

Its gas would connect through an underwater pipeline to an existing network that feeds New York and New Jersey, two of the top consumer markets in North America, the Irving, Texas, company said.

Liquefied natural gas doesn't raise the same pollution concerns as crude oil but some critics say such terminals can still be environmentally disruptive, The Wall Street Journal reported.

Opponents also cite the potential for leaks, fires, explosions or terrorist bombings near populated areas, The New York Times reported.

Since 2002, federal and state authorities have approved 18 new liquefied gas terminals around the country, including four offshore, the Times said.

Exxon has built, or is in the process of building, LNG terminals in Texas, Wales and Italy, the Journal said.

BlueOcean Energy would be situated about 20 miles east of Asbury Park, N.J., and 30 miles south of Long Island, N.Y.

If approved, it would go into service in the middle of the next decade, ExxonMobil said.