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Old 10-21-2017, 08:35 AM
 
Location: Austin, TX
11,616 posts, read 10,292,877 times
Reputation: 6788

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Great news for Lake Charles. I know that the hotel business is booming, will some of these workers stick around when construction ends, we don't know. But even when Sasol, Grand Cheniere LNG, and Cameron LNG are finished there are still some more LNG plants (at least 4) on the horizon.

Growth rate for Lake Charles economy led nation in 2016 | Local News | americanpress.com
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Old 10-22-2017, 10:27 AM
 
Location: Southwest Louisiana
2,883 posts, read 2,616,304 times
Reputation: 841
I hope that this translates to more diversity in job types and a more vibrant city.
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Old 10-28-2017, 12:58 PM
 
Location: Southeast Arizona
3,229 posts, read 4,285,626 times
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I am currently in Pineville.
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Old 10-29-2017, 11:08 AM
 
8,042 posts, read 4,480,276 times
Reputation: 16845
Quote:
Originally Posted by cBach View Post
Great news for Lake Charles. I know that the hotel business is booming, will some of these workers stick around when construction ends, we don't know. But even when Sasol, Grand Cheniere LNG, and Cameron LNG are finished there are still some more LNG plants (at least 4) on the horizon.

Growth rate for Lake Charles economy led nation in 2016 | Local News | americanpress.com
I hope this means someone will buy my house in the spring.
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Old 10-29-2017, 11:11 AM
 
8,042 posts, read 4,480,276 times
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Quote:
Originally Posted by cBach View Post
Great news for Lake Charles. I know that the hotel business is booming, will some of these workers stick around when construction ends, we don't know. But even when Sasol, Grand Cheniere LNG, and Cameron LNG are finished there are still some more LNG plants (at least 4) on the horizon.

Growth rate for Lake Charles economy led nation in 2016 | Local News | americanpress.com
Someone told me that Sasol didn't hire many local people, and some of those they did hire are temps. Not many workers there, and many of them already worked for Sasol and came here.

When is Sasol expected to leave? I hope not for a while. I saw a Sasol ad on tv, so I expect that means they'll be here for a while?
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Old 10-30-2017, 08:11 AM
 
Location: Austin, TX
11,616 posts, read 10,292,877 times
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Quote:
Originally Posted by bpollen View Post
Someone told me that Sasol didn't hire many local people, and some of those they did hire are temps. Not many workers there, and many of them already worked for Sasol and came here.

When is Sasol expected to leave? I hope not for a while. I saw a Sasol ad on tv, so I expect that means they'll be here for a while?
Sasol just hired 500 workers and will hire 200 more people in the next two years. They are taking the applicants directly from Sowela and McNeese for the most part.

Sasol hires 500 for Lake Charles plant, announces more jobs – New Orleans CityBusiness
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Old 11-01-2017, 08:29 AM
 
8,042 posts, read 4,480,276 times
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Quote:
Originally Posted by cBach View Post
Sasol just hired 500 workers and will hire 200 more people in the next two years. They are taking the applicants directly from Sowela and McNeese for the most part.

Sasol hires 500 for Lake Charles plant, announces more jobs – New Orleans CityBusiness
This is good news. Maybe someone will buy my house, if I'm not too far away.
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Old 11-15-2017, 11:21 AM
 
346 posts, read 289,139 times
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Quote:
Originally Posted by bpollen View Post
This is good news. Maybe someone will buy my house, if I'm not too far away.
FYI, they (incoming workers) are not buying $200,000+ homes at $100+ sqft. Many transactions are being conducted off the "real estate agent" market for around $75 sqft.

You should also check with a real estate lawyer and ensure you have title insurance on your home. If not, you can use this time to clear that matter up before selling the house. All of the incoming workers will be getting a loan to buy their house and title insurance is a must have for the banks.
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Old 12-03-2017, 08:10 AM
 
Location: Austin, TX
11,616 posts, read 10,292,877 times
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Well, some bad news about Sasol. They cancelled the $15 billion GTL plant, still going to finish the $12 billion Ethane cracker plant that they are still working on.

https://www.businessreport.com/artic...-officials-say

Fortunately, Louisiana wrote the incentives such that if Sasol backed out, they would get none.

But still, this is a very big blow to Lake Charles.
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Old 12-04-2017, 11:17 AM
 
346 posts, read 289,139 times
Reputation: 540
Quote:
Originally Posted by cBach View Post
Well, some bad news about Sasol. They cancelled the $15 billion GTL plant, still going to finish the $12 billion Ethane cracker plant that they are still working on.

https://www.businessreport.com/artic...-officials-say

Fortunately, Louisiana wrote the incentives such that if Sasol backed out, they would get none.

But still, this is a very big blow to Lake Charles.
LNG FOREVER:
No worries, we are the epi-center of the Gas-To-? revolution in the USA.

Sasol never even broke ground on the Gas to Diesel plant and we all knew they had cancelled it over a year ago.

Quietly another LNG mega-project, Driftwood LNG is ongoing and ready to break ground any day now!
Bechtel to design and build Driftwood LNG near Lake Charles for $15.2 billion | Business | theadvocate.comBechtel is the same company that built the Sabine Pass, Cheinere LNG facilities.

If you really want to see the effects of the Louisiana LNG boom, check out this EIA chart showing the drop in Natural Gas inventories as Sabine Pass hauls dozens of LNG super tankers overseas!
http://ir.eia.gov/ngs/ngs.html

HOUSING:
Adversely, the demand in the housing market in Lake Charles has fallen further down. Many homes over $300K have been dropping their prices over 10% and new buyers are demanding lower prices. The reason is that me and other local real estate investors have provided the temporary workers with enough RV parks and apartments to satisfy their needs. No one wants to buy a home for over $100 p/sqft anymore when they can rent an RV sport for much less.
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