LNG development company NextDecade has signed an agreement to investigate the development of a new floating storage and regasification unit (FSRU) and LNG import terminal at Ireland’s Port of Cork.
Under the terms of the Memorandum of Understanding (MOU), the potential development at the Port of Cork would receive LNG from NextDecade’s planned Rio Grande LNG project in South Texas.
NextDecade believes the Port of Cork facility could support imports of up to 3 mtpa from RGLNG.
“The MOU commits the parties to undertake exclusive negotiations to develop the LNG import project,” NextDecade said. The development would provide “competitively priced energy solutions” to Ireland and its regional partners under long-term contracts.
In late 2016, NextDecade agreed with FSRU provider FLEX LNG for the joint development of a full value chain infrastructure solution utilizing FSRU and dockside regasification import technology. FLEX LNG will be supporting the company to provide a fully integrated regas import solution for the proposed LNG terminal at the Port of Cork.
The company is in discussions with European energy companies to enter into long-term purchase contracts for delivery of LNG at the Port of Cork.
Additionally, NextDecade will manage shipping from its proposed RGLNG export facility at the Port of Brownsville in South Texas to the Port of Cork.