The liquefied natural gas (LNG) export project in service on Quintana Island in Texas by Freeport LNG on Monday said it has secured all of the funding needed to add a fourth train.

Westbourne Capital and its co-investors plan to provide a mezzanine loan of up to $1.025 billion to support the proposed unit. A final investment decision on Train 4 is expected “in the next several months,” according to CEO Michael Smith.

The fourth train as designed would have nominal LNG production capacity of 5.1 million metric tons/year (mmty), with operations targeted for 2023. That would bring the total export capability to more than 20 mmty. Freeport has secured KBR Inc. for the engineering, procurement and construction.

The first commissioning cargo from Train 1 set sail earlier this month, with about 50,000 cubic meters loaded aboard the LNG Jurojin, according to Freeport. The second train is also advancing, with an in-service date set for January, while the third train is set to begin service next May.

Brownstein Hyatt Farber Schreck acted as Freeport's counsel, and Allen and Overy acted as lenders' counsel.

Freeport’s Train 4 would be part of a so-called second wave of proposed LNG export projects. Cheniere Energy Inc. during the second quarter pulled the trigger on a sixth production unit at its Sabine Pass terminal in Louisiana, which is set to begin operations in the second half of 2023. Venture Global LNG Ltd. last month sanctioned the Calcasieu Pass LNG project, which is due online in 2022.

Tellurian Inc.’s proposed Driftwood LNG project in Louisiana is still awaiting a final investment decision (FID). The proposed 27.6 mmty facility in July clinched a $500 million investment from Total SA. NextDecade Corp. has indicated it expects to reach FID by the end of the year on its proposed 27 mmty Rio Grande LNG export terminal, a slight delay from its previous target of a September decision.