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Report: Annova LNG secures multimillion-dollar tax abatement in Texas

Cameron County, Texas, commissioners agreed on a multimillion-dollar tax abatement for Annova LNG's Brownsville natural gas export project, the Houston Chronicle reported Oct 2.

The 10-year tax agreement allows Annova to make a one-time payment of $5.5 million dedicated to community-related projects and a decade of $500,000 annual payments instead of taxes, according to the article. The deal garnered three out of five commissioners' support, the Chronicle reported.

In return for the deal, Annova LNG will have to maintain at least 100 employees, 35 of whom should be locals, the report said.

The project is expected to create up to 700 construction jobs over four and a half years, amounting to $324 million in payroll, the Chronicle reported, citing the supporters of the tax deal.

Opposing groups, however, continue to raise environmental and safety concerns regarding the project's impact on communities and the Rio Grande Valley, according to the report.

In its final environmental impact statement released in April, the Federal Energy Regulatory Commission said the Exelon Corp.-owned Annova LNG export project can use appropriate mitigation measures to ensure minimal environmental impacts. The export project, which is expected to produce up to 6.95 million tonnes per annum of LNG, is awaiting further application decisions from federal regulators.