Eagle LNG secures financing for Jacksonville facility (Courtesy of the Jacksonville Business Journal) — A Texas-based project development company and fuel provider secured financing for its third Jacksonville plant.
Eagle LNG received three mortgages totaling $110 million April 22 from OIC Investment Agent LLC, according to county records. The company has proposed a small-scale liquefied natural gas, or LNG, facility at 1632 Zoo Parkway to serve customers domestically and in the Caribbean.
The fuel provider is already established in Jacksonville with a natural gas liquefaction plant and marine terminal in Maxville and a bunkering facility at Jaxport’s Talleyrand Marine Terminal, where it supplies Crowley Maritime vessels.
At the proposed facility, Eagle LNG will receive natural gas, liquefy and temporarily store the LNG and load it onto ocean-going vessels for export to countries that use heavy fuel oil or diesel for power generation, as well as for use in domestic marine fueling, according to the company’s website.
The site is 194 acres, and the facility is located in an area that hosts other bulk fuel terminals.
The project will have a processing capacity of 1.65 million gallons of LNG per day and onsite storage of 12 million gallons.
In 2020, the company filed plans for its $542 million facility on the Northside, and the city approved them for construction in May 2022. The city agreed in 2019 to pay back 50% of the tax revenue the facility generates over 10 years with a cap of $23 million as long as Eagle hires 12 employees at an average salary of $85,000.
The site plans, prepared by Genesis Halff, show a 15,000-square-foot warehouse, 5,000-square-foot administration building, 625-square-foot security building and an array of LNG infrastructure.
The company received its first liquefied natural gas carrier from Dutch gas shipping Anthony Veder in October. It’s part of a fleet that will supply LNG and bunker services to the Caribbean basin.
Eagle LNG received permits earlier this year to expand its Maxville facility and its Jaxport Talleyrand terminal.
The only permit issued for the Northside facility was a $10.3 million sitework permit on Sept. 23, 2022.