BNP Paribas named financial adviser for Texas LNG

BNP Paribas named financial adviser for Texas LNG

Texas LNG Brownsville informed that BNP Paribas has been appointed as financial adviser for the Brownsville project.

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 and project construction, the company said in a statement.

Texas LNG is planning to build the Brownsville project in two phases, each with LNG production of 2 million tons per annum. Pending FERC’s final approval to construct the project, Phase 1 is expected to commence production in 2020.

On July 23, 2015, Texas LNG received a notice of intent to prepare an environmental impact statement from FERC.  The EIS, which will be prepared by FERC staff, will examine the potential environmental impacts of the Texas LNG project.

Over 60% of FEED has been completed by Texas LNG’s equity and engineering partner, Samsung Engineering. As of the end of July 2015, Samsung Engineering has completed eight out of the 12 month front end engineering and design, the company said.

 

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