PASCAGOULA, Miss. — Gulf LNG is poised to become the largest economic development investment in the state’s history, owners said. That would be the $8 billion it would cost to convert it from a liquefied natural gas import terminal to one that brings in U.S. natural gas, chills it to a liquid and exports it to other countries. Gulf LNG has taken the next step in the process to make that transformation. Last month, it formally applied to the Federal Energy Regulatory Commission for an environmental assessment. George Freeland, director of the Jackson County Economic Development Foundation, said the investment would be tremendous, “but it’s important to manage expectations.” He said the business model has not come together yet. In order to make such an investment, Gulf LNG must line up customers, and that involves competing with three dozen other LNG entities also seeking federal approval to export. (Source: Sun Herald, 07/04/15)