Freeport LNG Closes on Financing for First Two Liquefaction Trains; Issues Notice to Proceed with Construction
Posted on Nov 25, 2014 in Financing, LNG Exports | Comments Off on Freeport LNG Closes on Financing for First Two Liquefaction Trains; Issues Notice to Proceed with Construction
Today, Freeport LNG Expansion, L.P., (Freeport LNG) announced that its subsidiaries, FLNG Liquefaction, LLC, and FLNG Liquefaction 2, LLC, successfully closed on debt and equity financing commitments of approximately $11 billion required for the development of the first two liquefaction trains at Freeport LNG’s proposed LNG export terminal on Quintana Island near Freeport, Texas. Freeport LNG stated that it has issued a full notice to proceed to CB&I, Inc., and Zachry Industrial, Inc., to construct the first two liquefaction trains. The first liquefaction train is expected to start operations in third quarter 2018, with the second liquefaction train expected to commence operations five months thereafter.