NextDecade, FLEX LNG Join Forces on FSRU Solutions
NextDecade Global Solutions, a subsidiary of NextDecade, and FLEX LNG have signed a heads of agreement (HOA) to create a full value chain solution for clients looking to purchase liquefied natural gas (LNG) from NextDecade’s Rio Grande LNG export project in Brownsville, Texas.
Initially, NextDecade and FLEX LNG will develop floating storage and regasification unit (FSRU) and dockside solutions for international customers of NextDecade’s, with the LNG supply also provided by NextDecade, the duo said in a joint statement.
The HOA stipulates the terms for the long-term charter of FLEX LNG FSRUs.
FLEX LNG is developing FSRU solutions which include newbuild vessels as well as conversions of existing LNG carriers. The agreement with NextDecade is expected to enable the companies to jointly develop and deliver timely and cost effective import solutions.
“The agreement will reunite two pioneers of the floating LNG business, NextDecade Chair and CEO Kathleen Eisbrenner and Jonathan Cook who will become CEO of FLEX LNG early next year,” the two companies said.
In 2003, Eisbrenner founded Excelerate Energy where she originated and brought to market the first FSRUs. At Eisbrenner’s side, Cook as Chief Operating Officer helped lead the development, construction, and operations of those efforts, according to the two firms.
“Global interest for NextDecade’s U.S.-produced LNG has demonstrated a need for additional and flexible import solutions worldwide,” Kathleen Eisbrenner, NextDecade Chair and CEO, said.
Since the advent of the FSRU, the number of countries capable of importing LNG has more than tripled.
Based in The Woodlands, Texas, NextDecade is a project development and management company of LNG projects.
FLEX LNG, located in British Virgin Islands, is focused on transportation of liquefied natural gas (LNG) and related activities. The firm is constructing two Panamax LNG carriers with a capacity of 174,000 cbm at Samsung Heavy Industries shipyard, scheduled for delivery in the first half of 2018.