NextDecade TO DEVELOP LNG FACILITIES WITH THE PORT OF CORK
NextDecade, a liquefied natural gas (LNG) development company focused on LNG export projects in the State of Texas, announced it has signed a Memorandum of Understanding (MOU) with the Port of Cork Company to advance a joint business development opportunity in Ireland for a new Floating Storage and Regasification Unit (FSRU) and associated LNG import terminal infrastructure.
NextDecade and the Port of Cork are planning a joint public event at the Port of Cork on August 2, 2017, to highlight the MOU and its potential benefits for Ireland and its regional partners. NextDecade CEO Kathleen Eisbrenner and Flex LNG CEO Jonathan Cook will meet with port officials and discuss the opportunity with local industry and political leaders.
Under the terms of the MOU, the potential development at the Port of Cork would receive LNG from NextDecade’s planned Rio Grande LNG (“RGLNG”) project in South Texas. The development would provide competitively priced energy solutions to Ireland and its regional partners under long-term contracts. If constructed, the project would substantially increase and diversify Ireland’s supply of natural gas.
The MOU commits the parties to undertake exclusive negotiations to develop the LNG import project. A key seaport in the south of Ireland, the Port of Cork is a sheltered, natural deepwater harbor capable of handling large liquids and cargo ships of all sizes. (Source: NextDecade)