Houston, Texas, USA, March 31, 2016 (GLOBE NEWSWIRE) -- Texas LNG Brownsville LLC (“Texas LNG”) is pleased to announce that it has filed an application with the U.S. Federal Energy Regulatory Commission seeking authorization to site, construct, and operate the proposed Texas LNG two-phase 4 million metric tonnes per annum (“MTA”) LNG export facility in Brownsville, Texas.
Vivek Chandra, Founder & CEO of Texas LNG, said “Transitioning from the pre-filing to the formal application stage is a significant milestone, placing Texas LNG within a select and elite group of U.S. LNG export projects in the FERC formal filing process, bringing us closer to our goal of delivering low-cost LNG under flexible terms from the Port of Brownsville to global buyers in 2020. I commend the entire Texas LNG team, especially Samsung Engineering, Braemar Engineering, NRG/ERM, and K&L Gates, for their tireless efforts to reach this important milestone.”
Texas LNG submitted its request to initiate the FERC pre-filing process in March 2015. During the past year, Texas LNG and its team of technical, environmental and legal advisers have completed Front End Engineering Design (“FEED”), submitted draft Resource Reports covering a wide range of environmental, engineering, reliability, and safety aspects of the proposed project, and have been in extensive consultation with FERC and other federal and state agencies, including the U.S. Fish and Wildlife Service, U.S. Army Corps of Engineers, U.S. Coast Guard, and Texas Commission on Environmental Quality. The submitted application included updated Resource Reports that will be evaluated by FERC Staff as they prepare the Environmental Impact Statement (“EIS”) in compliance with the National Environmental Policy Act (“NEPA”).
Langtry Meyer, Founder & COO of Texas LNG, noted “The filing of Texas LNG’s application to FERC represents the culmination of over 300,000 man-hours and twelve months of rigorous effort and engagement with FERC and other government agencies by the entire Texas LNG team. Texas LNG is committed to thoroughly evaluating and meeting all FERC safety, environmental, and socioeconomic requirements.”
Out of eleven distinct U.S. LNG export projects under construction or in the formal FERC process, ten projects are significantly larger size than Texas LNG’s 2 MTA first phase. Texas LNG continues to believe that smaller independent projects that promise low cost, low technical risks, and offer transparent, flexible tolling terms will be best placed in the current global LNG marketplace.
Texas LNG anticipates receiving all approvals and reaching FID in 2017. Construction will commence shortly thereafter with first LNG exports planned by 2020.
Texas LNG’s FERC application be downloaded from the FERC website (CP16-116-000) at www.ferc.gov or from Texas LNG’s website: http://www.txlng.com/theproject/regulatory-updates.html.
About Texas LNG
Texas LNG Brownsville LLC is an independent, Houston-based energy company engaged in LNG-related businesses. Key members of its management and technical team have extensive LNG, gas and large engineering and construction global project experience, as well as long-term relationships in LNG markets. The company is focused on low unit costs, speed to market, LNG offtake flexibility, efficient use of capital, robust technical solutions, and is well positioned to commence Phase 1 production of 2 MTA of LNG (out of a total permitted capacity of 4 MTA) for export to FTA and non-FTA markets in 2020.
Texas LNG’s initial project will be constructed at the Port of Brownsville in south Texas. Texas LNG’s 625-acre site is strategically located on the north shore of the Port of Brownsville's deepwater ship channel in proximity to natural gas supplies. The Texas LNG team includes leading financial, technical, environmental and legal partners including Samsung Engineering, BNP Paribas, Third Point LLC, Braemar Engineering, Air Products, Honeywell, NRG/ERM, K&L Gates, GreenbergTraurig, Royston Rayzor, and others.
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.