Texas LNG Brownsville, part of Glenfarne Group, has crossed off another key item from its list of requirements to make a final investment decision (FID) for its planned liquefied natural gas (LNG) export development project at the Port of Brownsville, Texas.
Glenfarne disclosed a $500 million investment, with the lead investors being investment funds and accounts managed by global investment firm HPS Investment Partners, part of BlackRock, subject to customary and customary conditions.
This investment will help in the continued development and early construction work of the company Texas LNG The export terminal at the Port of Brownsville is seen as one of the final steps needed before obtaining an FID for the project.
Supports secured investment Recently announced Limited Notice to Proceed (LNTP) with Kiewit as part of the project Implementation of a turnkey contract with a lump sum. This project is expected to be one of the world’s lowest-emission LNG export facilities through the use of electric engines.
As Texas LNG continues to progress toward FID, the LNTP will include the issuance of significant purchase orders with key equipment suppliers, EPC-stage engineering activities, and geotechnical work.
Vlad BluzerTexas LNG Co-President and Partner at Glenfarne commented: “This latest investment milestone is a testament to Texas LNG’s readiness to execute, as it enables a number of strategic initiatives for the project, including placing orders for some critical equipment blocks.”
The project is part of Glenfarne’s permitted LNG portfolio in North America, which totals 32.8 million tons per annum (mtpa) of capacity under development in Alaska, Louisiana and Texas.
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