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Printed by Theodore Reed-Martin,
Editorial Assistant
LNG Trade,
TotalEnergies, International Infrastructure Companions (GIP) NextDecade Company, and their companions, GIC and Mubadala, made the ultimate funding determination (FID) to develop section 1 of Rio Grande LNG, a LNG mission in South Texas.
This primary section includes 3 liquefaction trains with a complete capability of 17.5 million tpy and CAPEX of US$14.8 billion. The engineering, procurement, and building (EPC) contract has been awarded to Bechtel, and commissioning of the plant is scheduled for 2027. The mission will probably be financed by fairness contributions from the companions and by a debt contribution concluded at this time with a global banks’ consortium.
Because of this determination, and in keeping with the phrases of the settlement signed in June, TotalEnergies will purchase the next:
- A 16.67% stake within the joint-venture in control of this primary section, and can take part in its fairness contributions, for a complete quantity of US$1.1 billion.
- A 17.5% stake in NextDecade for a complete quantity of US$ 219 million. A primary tranche of 5.06% was acquired final June, and a second tranche will probably be acquired within the subsequent few days to extend this stake to 12.47% and a 3rd tranche of 5.03 % shall be acquired earlier than the tip of the yr.
- An offtake of 5.4 million tpy of LNG from the manufacturing of this section for 20 years.
“We’re delighted with this remaining funding determination that allow us to launch the development of this new LNG liquefaction plant within the Unites States, to which TotalEnergies will contribute its experience within the growth of main LNG initiatives,” stated Patrick Pouyanné, Chairman and CEO of TotalEnergies. “This mission offers TotalEnergies entry to aggressive LNG due to its low manufacturing prices. LNG from this primary section will increase TotalEnergies US LNG export capability to over 15 million tpy by 2030, and thus our capability to contribute to European gasoline safety, and to offer prospects in Asia with an alternate type of power that’s half as emissive as coal.”
Learn the article on-line at: https://www.lngindustry.com/liquid-natural-gas/14072023/totalenergies-and-its-partners-make-final-investment-decision-for-texan-project/
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