Exelon Corp. Acquires 96 Percent Interest in Annova LNG
Posted on Jul 11, 2014 in Financing, LNG Exports | Comments Off on Exelon Corp. Acquires 96 Percent Interest in Annova LNG
Bloomberg News reports that Exelon Corp. has purchased a 96 percent share in Annova LNG. Annova LNG is currently developing a $1.3 billion LNG export terminal in Brownsville, Texas. At these facilities, Annova will shrink gas to 1/600th of its original volume through a refrigeration process. The terminal is expected to ship 2 million tons of gas per year and could eventually triple this output to 6 million tons per year, according to Annova Founder and now Exelon Vice President David Chung.