Applied LNG said it has completed a $22.5 million senior secured loan provided by Texas Capital Bank.
This transaction completes the financing of the company’s first liquefaction train in Midlothian LNG production platform, Cem Hacioglu, President and CEO of Applied LNG said in a statement.
Applied LNG’s first production train in Midlothian, Texas, is expected to be completed in mid-2015.
This will be the company’s third liquefier and will increase Applied LNG’s production capacity to 258,000 LNG gallons per day.
Image: Applied LNG