Annova LNG pursuing binding SPAs

Annova LNG pursuing binding SPA's

Houston-based Annova LNG said it is looking to firm up binding sales deals with buyers during 2015 and reach a final investment decision in 2017. 

Exelon Generation is the majority owner of the Annova LNG Brownsville project.

As sources told Reuters, Annova LNG signed a non-binding heads of agreement supply deals with European customers and is looking to turn these deals into binding SPAs before the end of 2015.

The proposed LNG terminal would sit beside the Brownsville Ship Channel on 650 acres designated by the Port of Brownsville for industrial use. Annova LNG said that the site could accommodate three stages of development, with each capable of producing two million tons of LNG a year for at least six million tons annually when complete.

LNG World News Staff; Image: Port of Brownsville

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