US-based liquefied natural gas (LNG) company Cheniere Energy is set to advance with the expansion of the Corpus Christi facility in Texas.

In a statement, the company said that its board of directors has made a positive financial investment decision (FID) for the Corpus Christi Stage three Liquefaction Project (CCL Stage three).

It is expected to produce more than ten million tonnes per annum (Mtpa) of LNG.

According to a Reuters report, the expansion of the plant will involve an investment of approximately $8bn.

Cheniere president and CEO Jack Fusco said: “Reaching FID on Corpus Christi Stage three represents an important milestone for Cheniere as we move forward on this significant growth project, which will strengthen our market-leading LNG infrastructure platform, provide much-needed volumes to the global LNG market by the end of 2025, and create long-term value for our stakeholders.”

The company has also issued full notice to proceed to Bechtel Energy to continue with the construction works for the project.

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By GlobalData

Earlier this year, Cheniere issued a limited notice to proceed to Bechtel to begin engineering and other site works.

The 1,000 acre CCL facility is located in the Corpus Christi Bay in San Patricio County. The facility currently includes three fully operational liquefaction units (trains), each equipped to produce five million tonnes of LNG per annum.

CCL Stage three will add up to seven ​midscale trains to increase the facility’s total nominal capacity to approximately 25Mtpa.

Cheniere Energy’s subsidiaries Sabine Pass Liquefaction and Cheniere Marketing have signed long-term sale and purchase agreements to sell a total of two millions tonnes of LNG per annum to Chevron.

Earlier this month, Equinor signed a similar agreement to buy 1.75Mtpa of LNG from Cheniere Marketing for 15 years.