April 24, 2024 [Reuters]- Glenfarne Group LLC’s proposed Texas LNG export plant in Brownsville has signed an additional tolling agreement with EQT Corp (EQT.N), opens new tab, the U.S. energy company said on Tuesday.

Tolling agreements are fee-for-service deals in which the gas provider pays the company to convert gas to LNG, which it then sells to its customers.

According to the terms of the agreement, the Texas terminal will provide natural gas liquefaction services of an additional 1.5 million tons per annum (MTPA) over 20 years, taking the total supply volume to EQT to 2 MTPA.

The Texas LNG export plant, which is designed to produce about 4 MTPA of LNG, has now sold over half its offtake.

“With this announcement with EQT and additional offtake sales to be announced soon, we will reach financial close and the start of construction in the fourth quarter this year,” Glenfarne CEO Brendan Duval said.

In January, Glenfarne said it hoped to give the Texas LNG project a financial go-ahead this year.

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