Louisiana LNG Energy (LLNGE) has secured funding from an affiliate of ArcLight Capital Partners for LLNGE’s mid-scale LNG export terminal currently under development in Louisiana along the Mississippi River.
The LNG project, expected on-line in late 2017, has export capacity of 2.0 million tonnes per annum (MTPA), possesses deep water access for very large gas carriers (VLGC) and utilizes modular construction for speed to market.
“The ArcLight funding agreement is a significant step in advancing the LLNGE Project. The addition of their team provides LLNGE additional experienced resources to continue moving the project forward with all phases of the project scheduled for completion in late 2017,” said Jim Lindsay, Chief Executive Officer of LLNGE.
“ArcLight is pleased to be partnering with LLNGE’s management team to facilitate the development of the premier mid-scale LNG facility in the Gulf Coast,” said Carter Ward, Partner of ArcLight.
LLNGE has also selected Chart Energy & Chemicals (Chart E&C) to perform advanced engineering for the Project. LLNGE has selected Chart’s 0.5 MTPA standard LNG liquefaction plant design. The plants will feature Chart’s proprietary liquefaction technology with in-house design and manufacture of all mission critical equipment. Advanced engineering will commence immediately. The project also has procured four manufacturing space reservations with Chart, to ensure that the 2.0 MTPA LNG plant can be online in the 4th quarter of 2017.
Tom Burgess, Vice-President of Marketing for LLNGE, commented, “By securing the slot reservations for the liquefaction trains, LLNGE has completed another important step in maintaining its timeline for production in 2017.“
Sea Port Group Securities acted as lead financial advisor and Galway Capital acted as financial advisor to LLNGE. Separately, Galway Energy Advisors has been retained to assist LLNGE in securing LNG off take arrangements and with other commercial operations.