NextDecade signs leases for possible LNG export terminal at Texas City
Woodlands, Texas-based NextDecade, a liquefied natural gas (LNG) export terminal developer, has signed state and local agreements to lease a potential site for a new LNG export facility.
The lease deals were made with both the state of Texas and the city of Texas City in Galveston county for a 1,000-acre area at Shoal Point.
It offers deep-water access for what would be a multibillion-dollar facility if developed.
Even though energy market volatility has caused some to put big projects on hold, advocates of LNG in the US cite the nation’s abundance of natural gas and the anticipated boom in overseas demand, especially from Asia, for the price-competitive product.
Liquefaction – the process of turning the gas into liquid by super cooling – makes the substance much easier to transport by ship in special tanks.
It has been almost a year since the US became an LNG exporter with last February’s shipment to Brazil aboard the tanker Asia Vision from Cheniere Energy’s Sabine Pass facility in Louisiana.
