LNG

Dec 4 (LNGJ) - Texas LNG has launched a front-end engineering and design phase for the small-scale Port of Brownsville project under South Korea's Samsung Engineering after securing an equity investment from New York-based fund Third Point. The equity fund will provide development capital for the plant to produce 2 million tonnes per annum in return for a stake in the venture. Texas LNG Chief Executive Vivek Chandra said: "The ability of Texas LNG to attract investment from a leading financial institution such as Third Point is a testament to the experience of the project management team and its strategies."