NextDecade LLC, The Woodlands, Tex., has agreed with the Port of Cork Co. to advance a joint business development in Ireland for a new floating storage and regasification unit (FSRU) and associated LNG import terminal infrastructure.
The potential Port of Cork development would receive LNG from NextDecade’s planned 27 million-tonne/year Rio Grande LNG project at the Port of Brownsville in South Texas (OGJ Online, Apr. 25, 2017). NextDecade believes the Port of Cork facility could support imports of up to 3 million tpy from Rio Grande LNG.
A joint public event at the Port of Cork is planned for Aug. 2 to highlight the agreement. Located in the south of Ireland, the port is a sheltered, natural deepwater harbor capable of handling large liquids and cargo ships of all sizes.
The agreement commits the parties to undertake exclusive negotiations to develop the LNG import project.
FSRU provider FLEX LNG will be supporting NextDecade to provide a fully integrated regasification import solution for the terminal. NextDecade is in discussions with European energy companies to enter into long-term purchase contracts for delivery of LNG. NextDecade also will manage shipping from the Port of Brownsville to the Port of Cork.
Meanwhile, NextDecade intends to go public following its planned merger with Harmony Merger Corp., which is subject to approval of Harmony’s stockholders at a special meeting on July 24.
