Authorization is a crucial step in the environmental review process to site, construct and operate the Texas LNG facility
Houston, Texas, USA, Nov. 21, 2019 (GLOBE NEWSWIRE) --
The United States Federal Energy Regulatory Commission (“FERC”) has voted to authorize Texas LNG Brownsville LLC’s (“Texas LNG Brownsville”) proposed 2 train, 4 million tonnes per annum (“MTA”) LNG export facility located in the Port of Brownsville, Texas (the “Project”).
FERC’s authorization is a crucial step in the environmental review process to site, construct and operate the Texas LNG facility. The Commission’s vote to approve the Project is the result of FERC’s comprehensive environmental, safety and security reviews which analyzed publicly available data, federal and state agency input, stakeholders’ comments, and extensive engineering, safety, and design information provided by Texas LNG Brownsville.
Vivek Chandra, Co-Founder and CEO of Texas LNG LLC (a member of Texas LNG Brownsville) said, “With the Texas LNG Brownsville project, we are developing a mid-sized LNG export facility to better connect abundant and low cost US natural gas with the world’s growing appetite for clean fuels, and we are so pleased to have reached this important milestone that paves the way for Final Investment Decision (“FID”).”
Langtry Meyer, Co-Founder and COO of Texas LNG LLC stated, “Texas LNG Brownsville is proud to have earned FERC’s approval today, which represents the culmination of over four years of extensive environmental, engineering, regulatory, and legal efforts. We are one step closer to delivering clean, safe, low-cost Texas natural gas energy to the world and generating jobs and economic benefits in Cameron County.”
The Texas LNG Brownsville facility's advantages include: access to low cost, abundant Permian Basin feed gas; use of third-party pipeline infrastructure; efficient modular construction design; low overhead costs; and transparent and competitive pricing structure. In addition, the 4 MTA size of the facility fills an important need from global LNG customers seeking smaller contracted volumes in order to diversify their gas supply portfolio.
Mr. Chandra concluded, “We appreciate the hard work and effort from FERC and all the supporting agencies, including the U.S. Department of Energy, U.S. Coast Guard, U.S. Department of Transportation, U.S. Army Corps of Engineers, U.S. Environmental Protection Agency, U.S. Fish and Wildlife Service, National Park Service, National Marine Fisheries Service, and Federal Aviation Administration, and others that have been involved in the process. Texas LNG Brownsville also appreciates the continued support of its partners, including Samsung Engineering, Braemar Technical Services, Environmental Resources Management (ERM), Port of Brownsville, K&L Gates, Greenberg Traurig, Hunton Andrews Kurth, Royston Rayzor, and Hogan Lovells. We look forward to continuing commercial, financial and technical momentum.”
About Texas LNG
Texas LNG Brownsville is an independent, Houston-based LNG export company focused on creating value and minimizing risk for all stakeholders, including the local community, investors and customers. Texas LNG Brownsville benefits from low capital and operating costs, minimal pipeline expenditures, maximum contractual flexibility, and proven liquefaction technology to deliver to the global LNG market.
The Texas LNG Brownsville export facility will be constructed in South Texas on a 625-acre site strategically located on the Port of Brownsville's deepwater ship channel near plentiful natural gas supplies and pipelines. The facility will enable the export of 4 MTA of LNG to established and emerging markets.
Samsung Engineering Co., Ltd. is a minority equity owner in and strategic partner to Texas LNG.
The information and materials in this document are; Provided for informational purposes only and are subject to addition, deletion and modification without notice at the sole discretion of Texas LNG LLC and Texas LNG Brownsville LLC ; Not warranted or guaranteed to be correct, complete or up-to-date. The information and materials could include technical inaccuracies and other errors. ; Provided “As Is” without any representation or warranties of any kind. No liability, direct or consequential, of any kind arising from the use of information and materials contained in this document or linked website is accepted. ; Not to be considered or to be constituted as investment advice or as any type of offer, offer, invitation, solicitation or recommendation in relation to the purchase or sale of any type of financial instruments or security in any jurisdiction.
Any forward looking statements contained in the information and materials in this document are only predictions and are subject to risks, uncertainties and assumptions, many of which are outside the control of Texas LNG LLC or Texas LNG Brownsville LLC or its officers or representatives. These risks, uncertainties and assumptions include commodity prices, currency fluctuations, economic and financial market conditions in various countries and regions, environmental risks and legislative, fiscal or regulatory developments, political risks, project delay or advancement, approvals and cost estimates. Actual values, results or events may be materially different to those expressed or implied in this document. Given these uncertainties, readers are cautioned not to place reliance on forward looking statements.