September 13, 2024 [Storage Terminals Magazine]- Texas LNG Brownsville LLC, a four million tons per annum liquefied natural gas export terminal to be constructed at the Port of Brownsville, Texas, and a subsidiary of Glenfarne Energy Transition, LLC, has announced the execution of another Heads of Agreement with a highly experienced, investment-grade global LNG player for a long-term LNG sale and purchase agreement.
With this latest agreement, Texas LNG has now secured sufficient customer offtake commitments to achieve its final investment decision. The new HOA 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 of 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. In addition to Texas LNG, Glenfarne’s LNG portfolio includes the 8.8 MTPA Magnolia LNG export facility under development in Lake Charles, Louisiana. The addition of these projects underscores Glenfarne’s commitment to supporting the global energy transition through the development of low-emission LNG facilities.
With these strategic agreements, Texas LNG is poised to contribute significantly to the growing demand for cleaner energy sources worldwide, reinforcing its position as a key player in the LNG market and advancing its mission to lead in the energy transition.
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