NextDecade, Port of Cork to develop Ireland’s FSRU project

NextDecade, Port of Cork to develop Ireland's FSRU projectImage courtesy of Port of Cork

US LNG export player NextDecade signed a memorandum of understanding with the Port of Cork Company to set up a floating storage and regasification unit and associated LNG import terminal infrastructure in Ireland.

Under the terms of the MOU, the potential development at the Port of Cork would receive LNG from NextDecade’s planned Rio Grande LNG project in South Texas, increase and diversify Ireland’s supply of natural gas as a result, a joint statement reads.

The MOU commits the parties to undertake exclusive negotiations to develop the LNG import project in Ireland’s Port of Cork, a sheltered, natural deepwater harbor capable of handling large liquids and cargo ships of all sizes.

NextDecade believes the Port of Cork facility could support imports of up to 3 mtpa from Rio Grande LNG.

In December 2016, NextDecade signed a heads of agreement with FSRU provider FLEX LNG for the joint development of a full value chain infrastructure solution utilizing FSRU and dockside regasification import technology.

FLEX LNG will be supporting NextDecade to provide a fully integrated regas import solution for the proposed LNG terminal at the Port of Cork.

The company is also in discussions with European energy companies to enter into long-term purchase contracts for delivery of LNG at the Port of Cork.

Additionally, NextDecade will manage the shipping from its proposed RGLNG export facility at the Port of Brownsville in South Texas to the Port of Cork.

 

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