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NRC Issues Early Site Permit to Tennessee Valley Authority for SMRs at Clinch River Site

LCG, December 27, 2019--The Nuclear Regulatory Commission (NRC) announced on December 17 that the Commission has authorized the issuance of an Early Site Permit (ESP) for Tennessee Valley Authority's (TVA's) Clinch River site near Oak Ridge, Tennessee. The ESP closes several site-related issues, including many environmental impacts, for small modular reactors (SMRs) at the site. The ESP is the first issued by the NRC for SMRs and will be valid for up to 20 years from date of issuance.

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NRC Issues Subsequent License Renewals for First Time to Nuclear Reactors in Florida

LCG, December 11, 2019--The Nuclear Regulatory Commission (NRC) staff recently approved Florida Power & Light's (FPL's) application for an additional 20 years of operation for Turkey Point Nuclear Generating Units 3 and 4. This is the first time the NRC has issued renewed licenses authorizing reactor operation from 60 to 80 years. The subsequent (or second) license renewals (SLRs) for Turkey Point Unit 3 and Unit 4 now expire on July 19, 2052 and April 10, 2053, respectively.

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Industry News

Freeport LNG Terminal Project Attracts New Investors

LCG, December 17, 2013--Freeport LNG Expansion, L.P. (Freeport LNG) and IFM Investors yesterday announced that IFM Investors agreed to invest approximately $1.3 billion of equity funding for Freeport LNG's proposed natural gas liquefaction loading facility on Quintana Island near Freeport, Texas.

The funding from IFM Investors will provide equity to develop the second train at Freeports LNG's terminal over the 51 to 54 month construction period. Additional funding will be sourced from a consortium of project finance lenders. Financial close for the transaction is expected to take place in mid-2014 pending regulatory and other approvals.

Freeport LNG's CEO stated, "We are thrilled to announce that such a prestigious and well-regarded investment firm has chosen to invest in the Freeport LNG facility. This announcement clearly sends a signal to the financial community about our ability to fund the planned expansion and further solidifies our ability to move forward."

Domestic natural gas will be transported via pipeline and pretreated near Freeport LNG's existing metering, compression and underground storage facilities. The pretreated natural gas will then be delivered to the terminal through Freeport LNG?s existing gas pipeline. At the terminal it will be liquefied and then stored in full-containment LNG storage tanks. LNG will be exported from the terminal by LNG carriers arriving via marine transit through the Freeport Harbor Channel.

A number of project milestones have been achieved this year. In February 2013, Freeport LNG executed a 20-year use-or-pay liquefaction tolling agreement with BP Energy Company equivalent to the minimum guaranteed production capacity of the second train. In May 2013, the Freeport LNG Terminal received conditional authorization from the U.S. Energy Department (DOE) to export 1.4 Bcf/day of LNG to non-Free Trade Agreement (FTA) countries. In November 2013, the DOE conditionally authorized the Freeport LNG Expansion to export greater volumes of LNG to non-FTA countries from the terminal. The additional export capacity is 0.4 Bcf/day, or a total of 1.8 Bcf/day. Earlier this month, Freeport LNG awarded two contracts, each valued at approximately $2.5 billion, to a joint venture between CB&I, Inc. and Zachry Industrial, Inc. to construct the initial two trains of the liquefaction project.

Commencement of construction of Freeport LNG's liquefaction project is subject to receipt of authorization to commence construction from the Federal Energy Regulatory Commission (FERC) and final investment decision by Freeport LNG.
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