Applied LNG reaches financing deal with Texas Capital Bank
Posted on Wednesday, February 11th, 2015 at 4:40 pm
Applied LNG closed a $22.5 million deal with Texas Capital Bank to finance the construction of a liquefier to process liquefied natural gas (LNG) at their LNG plant in Midlothian, TX, the San Fernando Valley Business Journal stated on February 2.
The liquefier is the first of six the company plans to construct on the 31-acre facility just south of oil and natural gas-rich Dallas-Fort Worth. The liquefier, which is expected to be completed mid-year, will increase the company’s LNG production. It is also expected to provide the South, the Midwest, and the Eastern seaboards with their needed LNG supply.
Applied LNG Chief Executive Cem Hacioglu said in a statement that the company’s partnership with Texas Capital Bank is a testament to the company’s stability and its growth potential in the oil and natural gas sector.
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