Westbourne Capital and its co-investors agreed to finance a load up to $1.025 billion in support of the fourth liquification train on the Freeport LNG project. Along with a bank facility, this loan will cover all the financing needs for the train expansion.
The fourth train also recently received both FERC and DOE approvals. Following the approvals, the Freeport LNG project contracted KBR to provide engineering, design, procurement, production and commissioning services. The additional train will process up to five million tons per annum (MTPA) which can be exported to non-US destinations.
George Batsakis, Executive Director and Partner at Westbourne Capital said, “We are very pleased to extend our investment relationship with this world-class LNG project backed by an experienced management team and a strong stakeholder group. We wish Freeport every success with the imminent commencement of operations and development of Train 4.”
Michael Smith, Chairman and CEO of Freeport LNG added that they hope for final investment decision (FID) in the coming months.
