Agreement with South Texas Electric Cooperative solidifies electric transmission needs for length of project
BROWNSVILLE, TX — Annova LNG has signed a facilities agreement with the South Texas Electric Cooperative (STEC) for 405 MW, representing the total electric transmission needs for the 6.0 MTPA LNG export project.
“The Annova LNG project has a significantly lower environmental impact on the Rio Grande Valley than other proposed projects due to its use of electrical power instead of natural gas to drive its liquefaction compressors,” said Omar Khayum, Annova LNG CEO. “We are confident that through the executed agreement, STEC will provide all electric transmission services required for safe and reliable operation of the project.”
Magic Valley Electric Cooperative, a member of STEC, will be the sole provider of electric energy to power the facility.
“This agreement is yet another example of Annova LNG’s momentum,” said Khayum. “The project continues to make significant progress as we begin 2019.”
Annova LNG currently estimates commercial operations to begin in 2024.
Annova LNG would support an average of approximately 700 on-site jobs over a four-year period. Upon completion of the facility, Annova LNG would employ approximately 165 permanent full-time workers to run and manage the plant.
About Annova LNG
Annova LNG is a 6.0 MTPA liquified natural gas export facility under development at the Port of Brownsville, Texas. With an experienced leadership team and investment-grade equity owners including Exelon Corporation, Black & Veatch Corporation and Kiewit Corporation, Annova LNG is expected to be a leader among second wave U.S. LNG projects by catering to midscale LNG customers who are buying in 1.0 MTPA increments. The facility would diversify the Brownsville and the Rio Grande Valley economy and provide a much-needed boost by creating thousands of direct and indirect jobs from construction through operations.
About South Texas Electric Cooperative
South Texas Electric Cooperative (STEC) is a cutting-edge Generation and Transmission Cooperative supplying wholesale electric services to eight member distribution cooperatives. Those member cooperatives serve over 280,000 consumers in 42 south Texas counties. STEC provides positive economic impacts and works for the sustainable development of its surrounding communities. The cooperative employs 283 individuals at four locations within the state, including the headquarters facility in Nursery and other locations in Pearsall, Donna, and Edinburg. In 2017, total operating revenues and wages created by the cooperative were $495 million and $26.7 million respectively. Additionally, STEC owns approximately $1.5 billion in assets and contributes over $8.5 million in property taxes annually. STEC also supports various qualifying non-profit organizations in its geographic service areas by offering charitable donations and paid time for its employees to volunteer with these organizations. In 2017, STEC donated over $64,000 and 1,475 hours of paid time through this program.
Annova LNG Communications