Once running, Annova could yield state and local tax revenue exceeding $60 million annually. More than half of those funds would support local governments in Cameron County, the southernmost in Texas. Those $30 million could pay the starting wages for about 698 teachers, 850 cops, or 1,029 firefighters every year, according to SalaryGenius.com.
Franshaw’s enthusiasm and determination are evident when he speaks about the project and describes the values that have helped him succeed in business.
The Georgetown University graduate said:
“We all face a range of different challenges throughout our careers. I think, fundamentally, one of the biggest challenges we face is credibility. Who are you? People want to know that.”
“Often kids go to school and get a great education thinking that’s enough for them to sit in the captain’s chair and start making decisions. But everyone’s expected to pay their dues and learn the industry while developing a voice as well as credibility. It’s on that basis that people begin to trust you. Your track record is critical. It’s important that you buckle in, plan to pay your dues and grow.”
Franshaw travels extensively, to recruit customers. In fact, he spoke with Urban News Service right after a business trip to Asia, where he huddled with potential buyers.
“Anyone who knows me knows that when I commit to a project, I’m all in. He also attributes his success to the team as a whole. My outside interests largely rest with my family. I have three children, and I just hope that I’m working at a pace and with the appropriate level of integrity to serve as an example of the quality of men that I would like them to grow to become.”
He and his wife, Maria, affectionately calls their sons Trouble 1, Trouble 2, & Chaos. They study, respectively, at Rice University, University of Texas and a Houston high school. Chaos aspires to Annapolis.
“I’m currently traveling approximately 75 percent of the time. I’m out at least three weeks of every month, and my wife really anchors our family. Without her, I couldn’t do what I do.”
Annova plans to have its first stage operational by 2020.
One key hurdle is obtaining approvals from the Federal Energy Regulatory Commission. After reviewing Annova’s initial 1,670-page application, the commission will spend at least one year reviewing a more detailed filing before it authorizes construction.
“While liquefied natural gas sales have climbed recently, the market five years from now is expected to be quite different. There currently appears to be a glut of LNG in the market, and we think that while there is an oversupply now, much of that will be absorbed by 2020.”