Texas LNG Eyes the Chinese LNG Market
Houston-based Texas LNG is looking to focus on the Chinese LNG market as demand for the commodity expands in Asia’s biggest economy.
The company is participating in the US presidential trade mission to China. The trade mission is part of president Donald Trump’s first state visit to Beijing. Led by US secretary of commerce Wilbur Ross and consisting of top executives from select multi-sector US firms, the mission is intended to help promote US exports to China. Delegation meetings will take place November 8 and 9 in Beijing, China.
“Texas LNG looks forward to representing the US LNG industry and promoting our China-focused strategy which includes LNG offtake, possible capital investment, and liquefaction module fabrication. Our partnerships with Chinese companies will contribute to US – China bilateral trade growth and enable both nations to reap economic and environmental benefits,” Langtry Meyer, Texas LNG COO, stated November 7.
Texas LNG operates in China through its China representative and has executed term sheets and memorandums of understanding with LNG buyers in China and elsewhere in Asia.
CEO Vivek Chandra commented: “We are encouraged by China’s efforts to develop and use LNG as an energy fuel. While bringing jobs and investment to the US, Texas LNG is ready to deliver clean, abundant Texas natural gas to China.”
US Federal Energy Regulatory Commission approval and final investment decision for the development of the Texas LNG liquefaction project in Brownsville, Texas is expected in 2018, and first phase production of 2mn mt/yr of LNG is expected to begin in 2023.
Shardul Sharma