US-based liquefied natural gas (LNG) exporter Cheniere Energy has approved the construction of a third liquefaction unit (Train 3) at the Corpus Christi liquefaction project (CCL project) in Texas.
The positive final investment decision (FID) will allow contractor Bechtel Oil, Gas and Chemicals to continue construction that began late last year.
The project marks the first FID on new liquefaction capacity in the US since 2015, Cheniere noted.
According to the company, the three-train liquefaction project is expected to have an overall production capacity of around 13.5mtpa of LNG, with each train contributing 4.5mtpa of LNG.
Cheniere Energy president and CEO Jack Fusco said: “Moving forward with the construction of Train 3 at Corpus Christi reinforces our position as the leader in US LNG.
“I would like to recognise the Cheniere team, our financial partners, our EPC partner Bechtel and our long-term customers at the CCL Project for their demonstrated teamwork, commitment and execution, which were critical elements in the successful commercialisation and financing of Train 3.
“We continue to see significant tailwinds in the global LNG market and look forward to delivering additional growth and value to shareholders.”
The company’s wholly owned subsidiary, Cheniere Corpus Christi Holdings, has closed on its amended credit facilities, thereby increasing the total commitments under the credit facilities to $6.1bn.
The funds available under the amended credit facilities will be used to finance a portion of the costs associated with development, construction and bringing the three trains into production.
In February, Cheniere reached an agreement to sell 1.2mtpa of LNG to China National Petroleum’s (CNPC) subsidiary PetroChina International Company.
