Exxon seeks OK for $1B floating gas terminal

Exxon Mobil Corp. plans to seek approval for a floating liquefied natural gas terminal 20 miles off the coast of New Jersey.

A similar proposal by Broadwater Energy for an LNG terminal in Long Island Sound has met opposition from Connecticut Gov. M. Jodi Rell and many legislators.

Exxon Mobil says its BlueOcean Energy terminal would not be visible from the shoreline. It would cost $1 billion to create, and would be designed to supply New Jersey and New York with sufficient fuel to meet the needs of 5 million households.