IFM to Invest USD 1.3 Bln in Freeport LNG Export Project

Freeport LNG Expansion and IFM Investors announced that IFM Investors has entered into an agreement to invest approximately $1.3 billion of equity funding for Freeport LNG’s proposed natural gas liquefaction and LNG loading facility on Quintana Island near Freeport, Texas.

The facility involves the development of three liquefaction plants, also known as “trains”.

The investment by IFM Investors will provide equity required for the development of Freeport’s second facility. Investment capital will be drawn down over Train Two’s planned 51 to 54-month construction period. The balance of the Train Two capital needs will be sourced from a consortium of project finance lenders. Financial close for the transaction is expected to take place in mid-2014 pending regulatory and other approvals.

“We are thrilled to announce that such a prestigious and well-regarded investment firm has chosen to invest in the Freeport LNG facility,” said Michael S. Smith, Chief Executive Officer, Freeport LNG. “This announcement clearly sends a signal to the financial community about our ability to fund the planned expansion and further solidifies our ability to move forward.”

“This project marks a unique opportunity for us to partner with a highly-experienced senior management team to invest in the rapidly developing LNG sector while maintaining a favorable risk/return profile for our investors,” said Kyle Mangini, Global Head of Infrastructure at IFM Investors.

In February 2013, Freeport LNG executed a 20-year use-or-pay liquefaction tolling agreement with BP Energy Company equivalent to the minimum guaranteed production capacity of Train Two.

LNG World News Staff, December 16, 2013; Image: Freeport LNG

Share this article

Follow LNG World News

One thought on “IFM to Invest USD 1.3 Bln in Freeport LNG Export Project”

Comments are closed.

Events>

<< May 2018 >>
MTWTFSS
30 1 2 3 4 5 6
7 8 9 10 11 12 13
14 15 16 17 18 19 20
21 22 23 24 25 26 27
28 29 30 31 1 2 3

The 27th World Gas Conference (WGC 2018)

The 27th World Gas Conference (WGC 2018) will be the largest, most timely and most significant global gas conference and exhibition ever held.

read more >

CWC LNG Fuels Summit – Marine| Road Transportation| Industrial

The CWC LNG Fuels Summit has now firmly established itself as the number one event on LNG Fuels…

read more >

Gas Shipping Americas

Informa presents Gas Shipping Americas – a two-day conference dedicated to gas shipping for the American market…

read more >

4th Annual Upstream West Africa Summit 2018

In June 2018, Senegal will play host to the No.1 Annual B2B Upstream Oil & Gas event, which will bring together the senior decision makers from across the prolific West Africa region to discuss the trends and challenges currently facing the Oil and Gas industry.

Since the discovery by Tullow Oil in 2007 of the Jubilee Field in Ghana, the Upstream sector has refocused its efforts to explore similar plays around the entire West and North West African coast. These efforts were rewarded with Cairn Energy’s prolific discovery in 2014 followed by Kosmos’ in 2015. The West Africa region has the industry’s spotlight firmly focused on further unlocking the potential of this largely underexplored region.

Companies that will be looking toward further unlocking the deepwater hydrocarbon potential of West Africa include: PETROSEN, BP, Kosmos Energy, Cairn Energy, FAR, Total E&P, Premier Oil, Shell, Tullow Oil along with the Ministries and key solution providers.

 More info

read more >