Exelon acquires Annova LNG
Published by Callum O'Reilly,
Senior Editor
LNG Industry,
Exelon Corp. has acquired Annova LNG, according to reports.
In an interview with Bloomberg, Exelon Vice President and founder of Annova LNG, David Chung, confirmed the deal that sees Exelon purchase a 96% stake in the startup, which is building a US$ 1.3 billion LNG export terminal in Brownsville, Texas, USA, which is scheduled to begin operation in early 2019.
The LNG project is expected to ship 2 million tpa of LNG to customers in FTA countries.
Chung is also reported to have said that the LNG plant could eventually triple in size to 6 million tpa.
Edited from various sources by Callum O'Reilly
Read the article online at: https://www.lngindustry.com/liquefaction/14072014/exelon_purchases_annova_lng_975/
You might also like
INOXCVA's mini LNG terminals: A modular, scalable, reliable, safe, and cost-efficient LNG distribution solution for remote locations and islands.
INOXCVA’s mini LNG terminals offer a modular, scalable, and cost-efficient solution for delivering clean energy to remote regions and islands. With rapid deployment, low CAPEX, and multi-sector utility, they enable LNG-based power, industrial fuel, and mobility where traditional infrastructure is unviable – bridging the last-mile gap in energy access.
