Texas LNG Brownsville LLC, a subsidiary of Glenfarne Energy Transition, LLC, has inked a Heads of Agreement with Gunvor Group’s subsidiary Gunvor Singapore Pte Ltd for a 20-year LNG FOB sale and purchase agreement. This deal secures 0.5 MTPA of LNG from Texas LNG’s future liquefied natural gas export terminal to be built in the Port of Brownsville, Texas.
Brendan Duval, CEO and founder of Glenfarne Energy Transition and co-president of Texas LNG, expressed excitement about welcoming Gunvor to their customer portfolio. He highlighted the significance of connecting Texas LNG, renowned for its low-emission liquefaction facilities, with global economies seeking reliable and sustainable energy sources.
Vlad Bluzer, co-president of Texas LNG, emphasized that this agreement aligns with their plan to make a final investment decision on the Texas LNG project later this year, alongside the commencement of the project financing process.
Kalpesh Patel, co-head of LNG Trading at Gunvor, expressed pleasure in becoming one of the foundational buyers of the Texas LNG project. He reiterated Gunvor’s commitment to supporting U.S. LNG export projects, which contribute to global energy market stability and enhance energy security, particularly for customers in Europe and Asia.
This agreement follows Texas LNG’s recent announcement of an LNG tolling agreement with EQT Corporation and partnerships with industry giants such as Baker Hughes, ABB, and Gulf LNG Tugs of Texas, representing nearly one billion dollars of investment into the project.
Glenfarne Energy Transition, the majority owner and managing member of Texas LNG, is a prominent developer, owner, and operator of energy transition infrastructure. The Texas LNG project is slated to achieve financial close and commence construction in 2024, with commercial operations expected to begin in 2028. Glenfarne Energy Transition also owns and develops the 8.8 MTPA Magnolia LNG in Lake Charles, Louisiana.
For more information visit www.glenfarneenergytransition.com
