Texas LNG Announces Additional Offtake Sufficient for FID
HOUSTON & BROWNSVILLE, Texas--(BUSINESS WIRE)--Sep 11, 2024--
Texas LNG Brownsville LLC (“Texas LNG”), a four million tonnes per annum (“MTPA”) liquefied natural gas (“LNG”) export terminal to be constructed in the Port of Brownsville, Texas, a subsidiary of Glenfarne Energy Transition, LLC (“Glenfarne”), is pleased to announce that it has executed another Heads of Agreement (“HOA”) with a highly experienced, investment-grade, global LNG player for a long term LNG sale and purchase agreement.
With this announcement, Texas LNG has now secured customer offtake commitments in a volume sufficient for achieving final investment decision. The new agreement adds to existing agreements with EQT Corporation, Gunvor Group, and Macquarie Group.
“We are grateful that our customers have chosen Texas LNG, designed to be the lowest emitting LNG facility in the United States, to make a significant investment in the global energy transition,” said Brendan Duval, CEO and Founder, Glenfarne Energy Transition and Co-President of Texas LNG. “Our strong and diversified customer base, which fortifies Texas LNG’s FID financeability, now includes the largest producer of natural gas in America, a leading global financial institution, one of the world’s largest independent commodities traders, and a major global LNG player. We look forward to advancing Texas LNG alongside our world-class project partners.”
Glenfarne Energy Transition, a developer, owner, and operator of energy transition infrastructure, is the majority owner and managing member of Texas LNG. The Glenfarne Energy Transition LNG portfolio also includes the 8.8 MTPA Magnolia LNG export facility under development in Lake Charles, Louisiana.
About Texas LNG
Texas LNG is a 4 MTPA LNG export facility to be constructed in the Port of Brownsville, Texas and a subsidiary of global energy transition leader, Glenfarne Energy Transition, LLC. Texas LNG is led by an experienced team committed to creating one of the cleanest, lowest emitting LNG export facilities in the world through electric motor drives. Additional information about Texas LNG may be found on its website at www.texaslng.com
About Glenfarne Energy Transition, LLC
Glenfarne Energy Transition is a wholly owned subsidiary of Glenfarne Group, a privately held energy and infrastructure development and management firm based in New York City and Houston, Texas, with offices in Dallas, Texas; Panama City, Panama; Santiago, Chile; Bogota, Colombia; Barcelona, Spain; and Seoul, South Korea. Glenfarne Energy Transition aims to address the “here and now” global energy transition through three core businesses: Global LNG Solutions, Renewables, and Grid Stability. The company’s seasoned executives, asset managers, and operators develop, acquire, manage, and operate energy infrastructure assets throughout North and South America. For more information, please visit www.GlenfarneEnergyTransition.com
View source version on businesswire.com:https://www.businesswire.com/news/home/20240911524947/en/
CONTACT: Kris Cole
pro-texaslng@prosek.com
KEYWORD: TEXAS UNITED STATES NORTH AMERICA
INDUSTRY KEYWORD: MARITIME TRANSPORT LOGISTICS/SUPPLY CHAIN MANAGEMENT OIL/GAS ALTERNATIVE ENERGY ENERGY
SOURCE: Texas LNG Brownsville LLC
Copyright Business Wire 2024.
