LLNGE secures funding for LNG export project
Published by Callum O'Reilly,
Senior Editor
LNG Industry,
Louisiana LNG Energy LLC (LLNGE) has secured funding from an affiliate of ArcLight Capital Partners LLC for a mid-scale LNG export terminal.
The LNG export terminal, which is expected online in late 2017, is currently under development in Louisiana along the Mississippi River. The LNG terminal has a 2 million tpa capacity, possesses deep water access for very large gas carriers (VLGC) and utilises modular construction for speed to market.
Jim Lindsay, CEO of Louisiana LNG Energy LLC, said: “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.”
Carter Ward, Partner of ArcLight, added: "”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.”
Advanced engineering contract
Louisiana LNG Energy LLC has selected Chart Energy & Chemicals Inc. to perform advanced engineering for the LNG project.
Chart's 0.5 million tpa standard LNG liquefaction plant design has been selected. 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 LNG project also has procured four manufacturing space reservations with Chart, to ensure that the 2.0 million tpa LNG plant can be online in Q4 2017.
Tom Burgess, Vice President of Marketing for Louisiana LNG Energy LLC, 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, LLC acted as lead financial advisor and Galway Capital L.P. acted as financial advisor to Louisiana LNG Energy LLC. Separately, Galway Energy Advisors LLC has been retained to assist Louisiana LNG Energy LLC in securing LNG off-take arrangements and with other commercial operations.
Adapted from press release by Callum O'Reilly
Read the article online at: https://www.lngindustry.com/small-scale-lng/12052014/llnge_secures_funding_for_lng_export_project_562/
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