Houston, Texas, USA, Sept. 02, 2018 (GLOBE NEWSWIRE) --
The United States Federal Energy Regulatory Commission (“FERC”) has issued the Notice of Schedule for Environmental Review (“SER”) to Texas LNG Brownsville LLC (“Texas LNG”) setting the anticipated dates for issuance of its Final Environmental Impact Statement (“FEIS”) and Federal Authorization Decision Deadline for Texas LNG’s proposed 2 train, 4 million tonnes per annum (“MTA”) LNG export facility located in the Port of Brownsville, Texas.
The FEIS and Federal Authorization Decision Deadline are the final major steps in the FERC process before issuance of the FERC Order. Based on the FEIS date and timelines of other approved LNG export projects, Texas LNG expects to receive its Final FERC Order authorizing construction and operation of its facility in the second half of 2019, in accordance with previously announced recent estimates.
The SER is an important milestone as it communicates FERC’s high confidence schedule for Texas LNG’s completion of the National Environmental Policy Act process, and for all agencies involved in federal permitting approval to complete their review. As per FERC’s expected timeline, Texas LNG will receive its Draft Environmental Impact Statement (“DEIS”) in October 2018, and FEIS by March 15, 2019. Other agencies issuing federal authorizations have 90 days to complete all necessary reviews and to reach a final decision on the request for a federal authorization. The Federal Authorization Decision Deadline is June 13, 2019.
Vivek Chandra, Founder & CEO of Texas LNG said, “We are pleased to receive this very important notice and would like to thank the 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, that have been involved in the process. We are confident the Texas LNG project will provide benefits for all our stakeholders, especially the Brownsville community, and look forward to progressing toward Final Investment Decision (“FID”) for the first 2 MTA train in 2019, and construction beginning soon thereafter.”
Langtry Meyer, Founder & COO of Texas LNG stated, “FERC’s schedule provides clarity to Texas LNG stakeholders including LNG buyers and investors that Texas LNG will receive its final FERC approval and is on track to achieving Final Investment Decision in 2019. We are particularly proud that we have reached this milestone by diligently deploying our resources cost effectively thereby providing superior value to our investors.”
Estimated Texas LNG Project Timeline
| Milestone | Expected Timeframe |
| Draft Environmental Impact Statement | October 2018 |
| Final Environmental Impact Statement | March 2019 |
| Federal Authorization Decision Deadline | June 2019 |
| Final Investment Decision (FID) | Late 2019 |
| Commence Construction | Early 2020 |
| Begin Operations (Phase 1, 2 MTA) | 2023/2024 |
Texas LNG has secured long-term offtake MOU/term sheets from LNG buyers in China, Southeast Asia and Europe, and will begin pre-FID Detailed Engineering with Samsung Engineering and KBR upon closing of its final Pre-FID development capital funding round which is currently underway.
The FERC Notice of Schedule for Environmental Review can be downloaded through the following link: https://elibrary.ferc.gov/idmws/common/opennat.asp?fileID=15013565 or from the Texas LNG website: http://www.txlng.com/theproject/regulatory-updates.html
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.
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.
Attachment