Glenfarne Energy Transition’s Texas LNG Signs LNG Offtake Agreement with Affiliate of Top Tier Market Participant
July 02 2024 - 1:50PM
Business Wire
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”), has signed a
non-binding Heads of Agreement (“HOA”) with an affiliate of a
top-tier credit-rated market participant for a long-term LNG
free-on-board (“FOB”) sale and purchase agreement (“SPA”) for 0.5
MTPA of LNG from Texas LNG.
“This agreement positions Texas LNG on the verge of full sell
out, and we look forward to finalizing our offtake partnerships in
the near future,” said Brendan Duval, CEO and Founder, Glenfarne
Energy Transition and Co-President of Texas LNG.
Texas LNG is in advanced negotiations with several potential
offtakers for the remaining volume of the project.
Glenfarne Energy Transition, a developer, owner, and operator of
energy transition infrastructure, is the majority owner and
managing member of Texas LNG. Texas LNG will begin construction in
2024 and commence commercial operations in 2028. 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
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Kris Cole pro-texaslng@prosek.com