Freeport LNG financing plan

Written by  John McKay
Friday, 28 June 2013
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June 28 (LNGJ) - Freeport LNG is seeking financing to start construction next year of the $11 billion export facility at Quintana Island in Texas that in six years is scheduled to ship 2.1 billion cubic feet of gas a day. Funds will be sought for the first two units that will cost about $7.5Bln, Michael Smith, Freeport's Chief Executive told Bloomberg. The company will also seek $1Bln to pay off some outstanding debt on top of the $11Bln, Smith added. One train a year is expected to open in 2017, 2018 and 2019, Smith said.

Last modified on Friday, 28 June 2013 06:54
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