Texas LNG appoints BNP Paribas as Financial Adviser for Brownsville LNG Project

Texas LNG Brownsville LLC has appointed BNP Paribas as Financial Adviser for the Brownsville LNG Project in Texas, USA.

BNP Paribas will assist Texas LNG in the raising of equity and debt financing for the total capital requirements of the project, including the execution of definitive transaction documents for achieving Final Investment Decision (FID) and Project construction.

The project includes six liquefaction trains with a total capacity of 6 million tonnes per annum of LNG. The natural gas delivered to the site would be treated, liquefied, and stored on site in two single containment LNG storage tanks, each with a net capacity of approximately 160,000 cubic meters. The LNG would be loaded onto LNG carriers (LNGCs) for export to overseas markets.

The project, to be located within a parcel of 655 acres, will consist of the following facilities: pipeline meter station; liquefaction facilities; two LNG storage tanks; marine and LNG transfer facilities; control room, administration/maintenance building; and utilities (site access road, power, water, and communication systems).

As of the end of July 2015, Samsung Engineering has completed eight out of the 12 month Front End Engineering and Design (“FEED”) study for the project. Key Technology Providers are Air Products (C3MR liquefaction process design), UOP (Gas pretreatment), Matrix PDM (LNG storage tank), Gexcon (vapor dispersion studies), Moffatt & Nichol (marine construction), PSI (geotechnical studies) and Marin (navigation studies).

Texas LNG remains on track to delivering first shipments of LNG in 2020.

Vivek Chandra, CEO of Texas LNG, noted

“The commitment of BNP Paribas to the Texas LNG Project is a testament to the steady progress the Project team and its partners have achieved since project inception in 2013. BNP Paribas joins Third Point LLC, Samsung Engineering & Construction, Air Products, UOP, PSI, Braemar Engineering, NRG, K&L Gates, GreenbergTraurig, Royston Rayzor, and other leading partners in supporting our exciting Project. BNP Paribas’ global footprint will help us develop offtake and investment relationships and ensure that our engineering and commercial agreements support project financing efforts, ensuring that the project schedule remains on track for first deliveries in 2020.”

Langtry Meyer, COO of Texas LNG, said

“The scoping meeting is a critical component of the regulatory review process. We are pleased to have participated and I thank the Federal Energy Regulatory Commission for organizing the event and inviting the public to learn about LNG and provide Texas LNG with constructive comments that will help us site, construct and operate a safe, reliable facility. Texas LNG appreciates the strong support shown by the community to the Project and looks forward to working with all parties to ensure that our Project is a valuable participant in the vibrant Rio Grande Valley community, and that the economic and environmental benefits of LNG are well understood.”