November 2, 2026: ST LNG, founded by Indian American entrepreneur Sharad Tak, has secured federal approval for a proposed liquefied natural gas (LNG) export facility off the Texas coast, marking a major milestone for the $8.2 billion project that could generate nearly $100 billion in exports over 20 years.

The facility, to be located off Matagorda, approximately 100 miles southwest of Houston, would have an annual production capacity of 8.4 million metric tons of LNG, Tak told The American Bazaar in an interview at his home in Sunny Isles Beach, Florida.

The project involves building a deepwater LNG port approximately 10.4 miles offshore. It would feature four LNG processing trains, each capable of producing about 2.1 million metric tons annually.

On October 28, U.S. Transportation Secretary Sean Duffy announced that the Maritime Administration (MARAD) had approved ST LNG’s deepwater port license application following an accelerated environmental review completed in 410 days.

The approval marks a significant regulatory milestone for the project, which is designed to export American natural gas to international markets, including Europe and Asia.

Tak explained that LNG is natural gas cooled to extremely low temperatures until it becomes liquid, substantially reducing its volume and allowing it to be transported aboard specialized tanker ships. Once it reaches its destination, the LNG is converted back into gas and distributed through pipelines for industrial and other 

Tak estimated that the facility could generate nearly $100 billion in natural gas exports over two decades, underscoring the scale of the investment and its potential contribution to American energy trade.

“With approximately USD 8.2 billion in planned investment, 8.4 million tonnes of annual LNG export capacity, and thousands of American jobs supported during construction and operations, ST LNG will contribute to America’s energy security,” Tak said in an earlier statement.

(Source: The American Bazaar)