Seapath, a subsidiary of Libra Group owned by the Logothetis family, is constructing the first liquefied natural gas (LNG) liquefaction and storage facility in the US Gulf, exclusively for ship refueling.
Seapath has obtained the necessary licenses from the Army Corps of Engineers and the US Coast Guard to commence this project.
Investment of $300 Million
This initiative, a collaboration between Seapath and Houston-based Pilot LNG, represents a total investment of at least $300 million. Construction is slated to begin in the fourth quarter of 2025, with a completion timeline of approximately two years.
This timely project aligns with the energy and industrial policies being promoted by US President Donald Trump.
Upon completion, the Galveston LNG Bunker Port will be the first infrastructure in the US Gulf dedicated to LNG refueling for ships.
Preliminary discussions have already been held with Greek shipping interests regarding the use of this new refueling facility.
The New Facility
The Libra Group is involved in various sectors, including shipping, renewable energy, tourism, real estate, and aerospace.
The new facility will be strategically located in Texas’s industrial area, near three key ports: the Port of Houston—the busiest cargo port in the US and among the largest globally; Galveston, the fourth largest cruise port in America; and the Port of Texas City, which ranks 15th in US cargo traffic.
Production Details
Ships using LNG are increasingly becoming popular in international shipping due to their lower carbon emissions.
LNG engines produce 25% to 30% less CO2 compared to traditional fossil fuel engines.
As of the end of 2024, over 600 LNG-powered ships were in operation, and this number is expected to surpass 1,000 by 2025, up from just 21 in 2010.
Initially, the facility will produce around 1,440 cubic meters of LNG per day, with production capacity expected to double to 2,877 cubic meters at full operation.
The first phase will also include a tank with a storage capacity of 11,356 cubic meters for the LNG produced.
The facility will receive natural gas via pipeline, which will be cooled to -162°C for conversion into LNG.
