Texas indigenous leaders target banks in a fight against natural gas export terminals in the io Grande Valley. Via insideclimate
. Both were initially slated to begin operations next year, but both are still seeking financing to begin construction and remain years away from completion.
“Texas LNG has demonstrated a commitment to having a positive impact,” the company said. “This is positively recognized and supported by public officials, investors, and banks.” Two banks have backed out in recent years: SMBC Group and BNP Paribas. The Port of Cork in Ireland nixed an agreement to build an import terminal for South Texas gas. One proposed terminal at the Port of Brownsville, Anova,The delay stands out as a major accomplishment for organizers in the Rio Grande Valley, a historically marginalized zone on the nation’s periphery that has long fought against exploitative development.
In the Valley, the story started around 2015, when Congress lifted the oil export ban. As the South Texas fracking boom matured, hundreds of wells in the Eagle Ford Shale were connected to pipelines designed to transport the gas they produced to coastal terminals.
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