Texas LNG last week said New York-based investment firm Third Point would provide development capital for its LNG export project in Brownsville, Texas. Texas LNG and Samsung Engineering in October completed pre-FEED work and later initiated a 12-month FEED phase. The plant will be located on a deepwater frontage site along the Port of Brownsville.
Texas LNG will use funding from Third Point for the Federal Energy Regulatory Commission application process.
“Third Point’s investment in Texas LNG greatly de-risks the project for all stakeholders, including feed gas suppliers, LNG offtakers and future strategic investors,” said Vivek Chandra, CEO of Texas LNG.
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