Port of Brownsville said Jan. 5 it reached long-term lease agreement with Texas LNG Brownsville to secure the Texas LNG export project site for up to 50 years. The port’s announcement said, “The lease agreement is an important milestone bringing the FERC-permitted project closer to a final investment decision while also confirming to LNG buyers that Texas LNG is well positioned to support the continued growth of the LNG market.”
The Texas LNG export facility will be constructed on 625 acres on Port of Brownsville’s deepwater ship channel near pipelines and natural gas supplies. Port officials said, “Texas LNG’s strengths include access to abundant and competitively priced Permian Basin feed gas.” Vivek Chandra, founder and CEO of Texas LNG, added, “Texas LNG is positioned to pursue a low-cost, flexible commercial model for global customers when operations begin in 2025.” Majority owner of Texas LNG Brownville is Alder Midstream, affiliate of Glenfarne Group.