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EMD-82-55 1 (1982-03-06)

handle is hein.gao/gaobabdac0001 and id is 1 raw text is: COMPTROLLER GENERAL OF THE UNITED STATES WASHINGTON D.C. 205a B-206514 MARCH 6,1982 President of the Senate and the11110111 Speaker of the House of Representatives 117808 Subject: Status of the Great Plains Coal Gasification Project Loan Guarantee--February 1982 (EMD-82-55) This report is in response to the Department of Energy Act of 1978--Civilian Applications (P.L. 95-238, Feb. 25, 1978) which requires the Comptroller General to audit, every 6 months from date of enactment, recipients of loan guarantees issued under the act. The Department of Energy (DOE) awarded its first loan guarantee under the act to the Great Plains Gasification Associates (Great Plains) on January 29, 1982, for a coal gasification plant, a pipeline connecting the plant to the interstate pipeline network, and a share of the mine which will provide lignite coal to the plant. The Federal Government is both the guarantor and the lending institution for the project. Funds for construction and startup of the facilities are being provided by the Department of the Treasury's Federal Financing Bank (FFB). This report discusses several key provisions of DOE's loan guarantee and DOE's plans as of February 19, 1982, to monitor the project. Documents related to the final loan and guarantee were not available until the January 29, 1982, signing. In view of the limited time between the signing and the legislatively mandated date for this report, the report is informational in nature. It is based on interviews with DOE and industry officials associated with the project. It is also based on a review of publications, studies, DOE reports related to the loan and guarantee, and the loan and guarantee agreements thewselves. We did not verify the cost or construction status information provided by DOE and project officials. The review was conducted in accordance with GAO's current Standards for Audit of Governmental Organizations, Programs, Activities, and Functions. PROJECT DESCRIPTION The Great Plains coal gasification plant now being built in Mercer County, North Eakota, will be the Nation's first commercial plant for generating synthetic natural gas from coal. Initial (306286)

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