Texas is historically entrenched in American business history as a state where commercial enterprise looms large and big deals are routinely consummated.
We have noted that singular status in prior Stephenson Fournier blog posts spotlighting diverse economic activity spanning the state. The firm’s November 19 entry noted, for example, Texas’ “economic muscle” and multiple reports issuing recently that underscore its “prominent placement as a national powerhouse.”
And now there’s this, in the form of further proofs that point to the state’s enduring business potency: federal approval of a liquefied natural gas expansion project that will further add to Texas’ commercial luster.
The permits granted by the Federal Energy Regulatory Commission late last month are unquestionably of top-tier significance. A Houston Chronicle report stresses that the approval for four LNG export terminals on the Gulf Coast will likely “pour tens of billions of dollars into the state economy [and] create thousands of jobs.”
LNG principals, state officials and entrepreneurs from many industries that will profit from expansion are understandably buoyed by the feds’ approval. One commentator calls the news “a clear win for the Texas economy.
Here is some projected information relevant to additional terminal creation. Expansion will reportedly trigger an approximate $45 billion in investment. Moreover, it will virtually double America’s current LNG production capacity.
The Chronicle notes that Houston businesses are slated to play a key role in project development.
Although project lights are flashing green, there are still some matters to iron out before construction proceeds in earnest. Those range from financing considerations to environmental concerns that must be addressed.
We will keep readers duly informed of material developments that occur going forward regarding this huge energy project.