Port of Brownsville set to welcome USD 39 billion in LNG investments
PRESS RELEASE – The Port of Brownsville is one step closer to welcoming three new LNG projects with an investment totalling USD 38.75 billion after the Federal Energy Regulatory Commission (FERC) approved their proposals today during its monthly meeting.
“Today’s announcement is another significant milestone in making these energy projects a reality and is the result of years of hard work by the applicants,” said John Reed, Chairman of the Brownsville Navigation District. “These new energy projects reflect our long-term strategy and vision for the port to be a catalyst for economic growth in the Rio Grande Valley by encouraging domestic and international business investments and driving developments that create new good-paying job opportunities for the region.”
Texas LNG Brownsville LLC, Annova LNG Brownsville, Rio Grande LNG LLC, and Rio Bravo Pipeline Company LLC represent a total investment of $38.75 billion in Cameron County and the Rio Grande Valley and will add thousands of job opportunities leading to significant economic progress in the region.
“The fact that the Port of Brownsville was sought out and chosen for these three LNG projects is a testament to our strategic location and Brownsville’s important role in both the energy industry and international trade,” said Eduardo A. Campirano, Port Director and CEO.
The next step in the process are final investment decisions (FID) to be made by the applicants, which would be as early as the first quarter of next year. Once FIDs are announced and the projects formally break ground, the region will be poised for new and diverse job opportunities.
The Port of Brownsville is the only deepwater seaport directly on the U.S.-Mexico border. It transships more steel into Mexico than any other U.S. port.