Progress towards realizing a liquefied natural gas (LNG) facility in Brownsville, Texas, took another step forward on Monday as Texas LNG Brownsville appointed BNP Paribas as financial advisors.
The planned Brownsville facility would be built close to the US-Mexico border and the mouth of the Gulf of Mexico.
The US has plenty of natural gas and this liquefied form is a cost-efficient way of transporting it around the world by ship.
France-based BNP Paribas, a global bank and financial services firm, has been involved in financing many LNG projects. It helps with raising equity and with debt financing.
Texas LNG is a Houston-based energy company specialising in LNG projects. It aims to export LNG to Free Trade Agreement (FTA) and non-FTA markets. Once up and running it plans to produce up to 2 million tonnes per annum (MTA) of LNG from feed gas sourced from the US natural gas system.
The company is in frequent interaction with the Federal Energy Regulatory Commission (FERC) as the process continues. FERC is arranging an Environmental Impact Statement (EIS) for the project.
Texas LNG aims to deliver its first shipments of LNG by 2020.
