The project of FLNG Liquefaction and FLNG Liquefaction 2 is expected to cost $9.64bn, while the financing would provide significant buffer for contingencies and cost overruns to ensure completion.
CB&I and Zachry Industrial have also secured full notice from Freeport LNG in order to proceed with the construction of the first two liquefaction trains.
Additionally, the third liquefaction train’s financing and construction commencement is scheduled for the second quarter of 2015.
The $4.369bn first liquefaction train is planned to commence operations in third quarter 2018 followed by the $4.025bn second liquefaction train five months thereafter.
Freeport LNG chief executive officer Michael Smith said: "The project will drive substantial economic growth in Texas and across the United States, requiring a peak construction workforce of over 4,000 workers and 300 new full-time workers at the facility once in operation.
"In addition, an estimated 25-30,000 permanent new jobs will be generated upstream of the project to support the increased natural gas exploration, production and infrastructure development required to meet the project’s supply demands."
