NextDecade LLC 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.
The MoU commits the parties to undertake exclusive negotiations to develop the LNG import project. Under the terms, the potential development at the Port of Cork would receive LNG from NextDecade’s planned Rio Grande LNG (RGLNG) project in South Texas, US.
NextDecade believes that the Port of Cork facility could support imports of up to 3 million tpy from RGLNG.
In December 2016, NextDecade signed a Heads of Agreement with FSRU provider Flex LNG for the joint development of a full value chain infrastructure solution utilising FSRU and dockside regasification import technology. Flex LNG will be supporting NextDecade to provide a fully integrated regasification import solution for the proposed LNG terminal at the Port of Cork. NextDecade is in discussions with European energy companies to enter into long-term purchase contracts for delivery of LNG at the Port of Cork. The company will also manage shipping from its proposed RGLNG export facility at the Port of Brownsville in South Texas to the Port of Cork.
Read the article online at: https://www.tanksterminals.com/storage-tanks/20072017/nextdecade-signs-mou-with-port-of-cork/