Three New LNG Projects Moving Forward at the Port of Brownsville
BROWNSVILLE, Texas--(BUSINESS WIRE)--Nov 21, 2019--
The Port of Brownsville is one step closer to welcoming three new LNG projects with an investment totaling $38.75 billion after the Federal Energy Regulatory Commission (FERC) approved their proposals today during its monthly commission meeting.
“Today’s announcement is another significant milestone in making these energy projects a reality and is the result of years of hard work by the applicants,” said John Reed, Chairman of the Brownsville Navigation District. “We’d like to thank FERC for its effort and diligence in reviewing these proposals and thank our community for their support. These new energy projects reflect our long-term strategy and vision for the port to be a catalyst for economic growth in the Rio Grande Valley by encouraging domestic and international business investments and driving developments that create new good paying job opportunities for the region.”
Texas LNG Brownsville LLC, Annova LNG Brownsville, Rio Grande LNG LLC, and Rio Bravo Pipeline Company LLC represent a total investment of $38.75 billion in Cameron County and the Rio Grande Valley and will add thousands of job opportunities leading to significant economic progress in the region.
“The fact that the Port of Brownsville was sought out and chosen for these three LNG projects is a testament to our strategic location and Brownsville’s important role in both the energy industry and international trade,” said Eduardo A. Campirano, Port Director and CEO. “FERC’s confidence in these projects, demonstrated by today’s approval is very important. The federal commission’s evaluation process ensures that the plants must operate within the design parameters for safety and environmental protection.”
The next step in the process are final investment decisions (FID) to be made by the applicants, which would be as early as the first quarter of next year. Once FIDs are announced and the projects formally break ground, the region will be poised for new and diverse job opportunities.
The port’s location along with strategic investments in enhanced infrastructure have turned the Port of Brownsville into a major center for large scale industrial development and a hub of economic activity, with more than 200 companies doing business at the port. The port is fueling job growth in the region and across the state. In fact, in 2018, more than 51,000 jobs in Texas were directly or indirectly supported by activity at the port. Furthermore, the Port of Brownsville is taking on an increasingly important role in international trade. Last year, the port’s Foreign Trade Zone ranked second in the U.S. for the value of exports and has consistently ranked in the top three out of 293 FTZs nationwide since 2013.
About the Port of Brownsville
The Port of Brownsville is the only deepwater seaport directly on the U.S.-Mexico border, and the largest land-owning public port authority in the nation with 40,000 acres of land. It transships more steel into Mexico than any other U.S. port. With more than $40 billion worth of projects currently in the works, the Port of Brownsville is transforming the Rio Grande Valley by creating positive investment opportunities and new good paying jobs.
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SOURCE: Port of Brownsville
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PUB: 11/21/2019 04:43 PM/DISC: 11/21/2019 04:43 PM