Houston, Texas, March 11, 2015 (GLOBE NEWSWIRE) -- Texas LNG Brownsville LLC ("Texas LNG") is pleased to announce that on Monday, March 9, 2015, it became the first LNG export facility proposed for the Brownsville, Texas area to initiate the U.S. Federal Energy Regulatory Commission ("FERC") pre-filing process, kicking off the regulatory review for the proposed liquefied natural gas ("LNG") export facility in Brownsville. The project has been assigned Docket No. PF15-14. The FERC regulates the siting, construction, operation, and maintenance of the physical LNG terminal and related infrastructure. More information about the pre-filing process and public participation in the regulatory process can be found at www.ferc.gov.
Texas LNG is planning to build the Brownsville project in two phases, each with LNG production of 2 million tonnes per year ("MTA"). Pending FERC's final approval to construct the project, Phase 1 is expected to commence production in 2020.
Vivek Chandra, CEO of Texas LNG stated, "The submission of our pre-filing request to FERC is a major milestone for the project. We now join a select group of projects that have entered this phase of project development. We are very pleased with the performance of our team, which includes Samsung Engineering, Braemar Engineering, NRG, K&L Gates, GreenbergTraurig, and Royston Rayzor and are confident that we have the skills and resources in place to efficiently work with FERC through this important process."
In addition, Texas LNG is pleased to announce that it has executed an amendment to its Option to Lease Agreement with the Brownsville Navigation District in Cameron County to upgrade to a significantly larger and more optimal 625 acre site with deepwater frontage to the Port of Brownsville shipping channel. The new site, located approximately 5 miles from the mouth of the Gulf of Mexico on the north side of the channel, facilitates construction, will allow safer reduced LNG tanker navigation within the channel, and allows the project to plan for future expansion.
Langtry Meyer, COO of Texas LNG commented, "Our new larger 625 acre site, which will place us as the closest proposed Brownsville LNG project to the Gulf of Mexico, enhances our design and expansion flexibility and minimizes transit times of LNG export tankers to the benefit of potential offtakers and investors. We thank the Port of Brownsville and the Port Isabel and Brownsville communities for their ongoing support."
Texas LNG's equity and engineering partner, Samsung Engineering Co., Ltd. ("Samsung Engineering") has assigned a large team of experienced engineers and project staff at its Global Engineering Center in Seoul, Korea to lead the engineering phase of the project with support from its Houston-based North American Headquarters. As of the end of February 2015, Samsung Engineering has completed four months out of the 12 month Front End Engineering and Design ("FEED") study and over 50,000 cumulative man-hours of engineering. In 2014, Samsung Engineering completed Concept Design and pre-FEED studies. Texas LNG is being supported by its owner's engineer, Braemar Engineering, and environmental consultant, Natural Resource Group ("NRG"), to optimize public safety and minimize environmental impacts while complying with--and in many cases-- exceeding the federal, state and local regulations. Engineering efforts are focused on providing low-cost, technically simple and reliable solutions that will use modular construction which will leverage local South Texas labor resources and shipyard efficiencies.
More information about the project and upcoming community meetings can be found on www.txlng.com, in both English and Spanish.
Texas LNG's pre-filing request can be viewed at http://elibrary.ferc.gov/idmws/search/intermediate.asp?link_file=yes&doclist=14310692.
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 speed to market, LNG offtake flexibility, efficient use of capital, and creative technical solutions, and is well positioned to commence Phase 1 production of 2 MTA of LNG for export to FTA and non-FTA markets in 2020.
The Company has significant international and domestic backing. Samsung Engineering and Third Point LLC are both investors in the project. Samsung Engineering, one of the world's leading engineering, procurement, construction and project management companies, is also positioned to be the engineering and construction contractor for the project. Third Point LLC, a New York based investment fund with over USD 17 billion in assets under management, has invested in major US LNG project companies.
Texas LNG's initial project will be constructed at the Port of Brownsville in Brownsville, 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 close proximity to natural gas supplies. Additional information about Texas LNG may be found on its website at www.txlng.com.
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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Source: Texas LNG