Freeport LNG Looking For Financing - Planning Gas Exports

Freeport TX LNG
Freeport TX LNG

Freeport LNG is looking to raise more than $7.5 billion to begin construction at its proposed LNG export facility in Freeport, TX.

The Energy Department has approved 1.4 Bcfd in exports at the site and the company is seeking approval for an additional 1.4 Bcfd. The facility still needs FERC approval and expects to know more in 2014. If everything goes as planned, one export train a year will come online starting in 2017.

The Freeport LNG facility has agreements to export gas for Osaka Gas, Chubu Electric Power, and BP.

Cheniere Energy is the only LNG export facility to receive full approval to export US natural gas. The Cheniere facility is located at Sabine Pass and construction started in August of 2012.

Production continues to grow in what are historically consuming areas like the Marcellus Shale. If production continues to grow in the Northeast, exports will be a welcomed market for Eagle Ford gas. Exports might even be needed to support any significant amount of natural gas development.