Project on-track for Final Investment Decision in Late 2018
Houston, Texas, USA, Oct. 28, 2018 (GLOBE NEWSWIRE) —
The United States Federal Energy Regulatory Commission (“FERC”) has issued the Draft Environmental Impact Statement (“DEIS”) for Texas LNG’s proposed 2 train, 4 million tonnes per annum (“MTA”) LNG export facility located in the Port of Brownsville, Texas. The DEIS has been issued in accordance with the anticipated dates listed in the Notice of Schedule for Environmental Review (“SER”) received in August 2018.
The DEIS is another milestone in the journey towards Final Investment Decision (“FID”) on the first 2 MTA phase of the Texas LNG project, anticipated in late 2019. The DEIS further de-risks the project and adds confidence to the dates of remaining milestones in the permitting process, including receipt of the Final Environmental Impact Statement (“FEIS”) by March 15, 2019 and the June 13, 2019 Federal Authorization Decision Deadline.
Vivek Chandra, Founder & CEO of Texas LNG said, “We are very pleased with the DEIS report conclusions, and appreciate the hard work and effort involved in the generation and compilation of the DEIS, especially 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 also appreciates the continued support of its technical and permitting partners, including Samsung Engineering, KBR, Braemar Technical Services, Environmental Resources Management (ERM), K&L Gates, Greenberg Traurig, Hunton Andrews Kurth, and Royston Rayzor.”
Langtry Meyer, Founder & COO of Texas LNG stated, “Texas LNG is committed to show how our project protects the environment and generates significant benefits for the local community and the Port of Brownsville. This project will bring jobs and investment to Cameron County and deliver clean, safe, abundant Texas natural gas energy to the world.”
Texas LNG’s differentiated strategy of realistic size, low overhead and cost structure, access to low cost Permian feed gas, and transparent tolling structure continues to resonate with LNG customers, investors, and project partners.
The 800 page, two-volume FERC DEIS can be downloaded through the following link: http://elibrary.FERC.gov/idmws/file_list.asp?accession_num=20181026-3000 or via 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.
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.
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