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    Annova LNG Gains New Equity, EPC Partners


FID on $3bn project expected in 2019.

by: Dale Lunan

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Natural Gas & LNG News, Americas, Corporate, Investments, Contracts and tenders, Political, Regulation, Liquefied Natural Gas (LNG), News By Country, United States

Annova LNG Gains New Equity, EPC Partners

Annova LNG, a 6mn metric tons/year mid-scale liquefaction facility planned for the Port of Brownsville in Texas, said October 22 that LNG engineering firms Black & Veatch and Kiewit had each taken equity interests in the project and, concurrently, been jointly awarded its engineering, procurement and construction (EPC) contract.

“Annova LNG is pleased to welcome Black & Veatch and Kiewit as both equity investors and strategic partners that will provide unparalleled expertise in the design, engineering and construction of our LNG facility,” Annova LNG CEO Omar Khayum said. “Our target customers place high value on a track record of delivering critical projects on time and within budget, and Annova LNG has now taken significant steps to achieve that.”

Terms of the equity investment and of the EPC contract were not disclosed.

Annova LNG filed its project application with the US Federal Energy Regulatory Commission (Ferc) in July 2016 and expects to receive a draft environmental impact statement (EIS) from the regulator in April 2019 and a final EIS in July 2019.

A final investment decision would follow in 4Q 2019, with commercial operations expected in 2024. In its Ferc application, Annova estimated the capital cost of the project at $3bn.