Houston, Texas, USA, Nov. 07, 2017 (GLOBE NEWSWIRE) -- Texas LNG will participate in the U.S. presidential trade mission to the People’s Republic of China. The trade mission is part of U.S. President Donald Trump’s first state visit to China with Chinese President Xi Jinping. Led by U.S. Secretary of Commerce Wilbur Ross and consisting of top executives from select multi-sector U.S. firms, the mission is intended to help promote U.S. exports to China by supporting U.S. companies in launching or increasing their business in the marketplace. Delegation meetings will take place November 8 and 9 in Beijing, China.
Langtry Meyer, Texas LNG Founder & Chief Operating Officer, stated, “Texas LNG looks forward to representing the U.S. LNG industry and promoting our China-focused strategy which includes LNG offtake, possible capital investment, and liquefaction module fabrication. Our partnerships with Chinese companies will contribute to U.S – China bilateral trade growth and enable both nations to reap economic and environmental benefits.”
Vivek Chandra, Founder & Chief Executive Officer, commented, “We are encouraged by China’s efforts to develop and use LNG as an energy fuel. While bringing jobs and investment to the United States, Texas LNG is ready to deliver clean, abundant Texas natural gas to China.”
Texas LNG operates in China through its China representative and legal adviser, Andrews Kurth Kenyon LLP Beijing, and has executed term sheets and memorandums of understanding with LNG buyers in China and elsewhere in Asia.
U.S. Federal Energy Regulatory Commission (FERC) approval and Final Investment Decision for the development of the Texas LNG liquefaction project in Brownsville, Texas is expected in 2018, and first phase production of 2 million tonnes per annum of LNG is expected to begin in 2023.
About Texas LNG
Texas LNG is an independent, Houston-based LNG export company focused on high value and low risk. Texas LNG introduces to the market low capital and costs, minimal pipeline expenditures, low operating costs, maximum contractual flexibility, and proven liquefaction technology. Samsung Engineering Co., Ltd. is a minority equity owner in Texas LNG and strategic partner responsible for engineering, construction, and procurement.
The high value, low risk Texas LNG 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 million tonnes per annum (MTA) of LNG to established and developing markets. Texas LNG expects final approval by the FERC and Final Investment Decision in 2018, with Phase 1 production of 2 MTA expected in early 2023.
The Texas LNG team comprises leading technical, commercial, financial, environmental, and legal experts including Samsung Engineering, KBR, Braemar Technical Services, Air Products and Chemicals, Honeywell, Third Point LLC, Environmental Resources Management (ERM), K&L Gates, Greenberg Traurig, Andrews Kurth Kenyon LLP, and Royston Rayzor.
Cautionary Statement:
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.