Texas LNG plans to announce its final investment decision in December

Brian Duval, CEO of Glenfarne Energy Transition, said that the company expects to reach a final decision about its Texas LNG project in December.

Glenfarne Energy has developed a 4 million metric tons per year (MTPA) liquefied gas plant (LNG) in Brownsville, South Texas.

Duval, speaking at a Houston energy conference, said that "we should be able get to FID by December once we receive the final irreversible permission to build the facility by November."

He said that the company had already signed an Engineering, Procurement and Construction (EPC), contract with Kiewit for the construction of the plant. He added that the company has enough long-term customers to proceed with the construction of the plant when it receives all legal approvals.

A U.S. Court put on hold the project's construction permit, as well as permits for other LNG facilities, and ordered federal regulators review their environmental impact.

The regulator asked for more information in order to assess the impact of these plants. Duval stated that he expects the process to be completed by November.

Donald Trump, the president of the United States, has ordered his government to speed up development of energy projects by reducing red tape and reducing permit time. Trump has also lifted a moratorium that was preventing the development of certain plants by halting new LNG export permits. (Reporting and editing by Simon Webb, David Gregorio, and Curtis Williams)

(source: Reuters)