Texas LNG Brownsville LLC, a subsidiary of Glenfarne Energy Transition, LLC, has announced a significant milestone in its liquefied natural gas export terminal project. The company has signed a second Heads of Agreement with EQT Corporation for natural gas liquefaction services, further solidifying its position in the LNG market. This agreement, spanning a period of 20 years, will see Texas LNG receive an additional 1.5 million tons from EQT, bringing its total HOA volume with EQT to 2 MTPA.
This latest transaction marks a substantial expansion of Texas LNG’s commercial agreements and demonstrates the growing demand for its LNG export services. While final terms are still subject to negotiation for a definitive 20-year LNG tolling agreement, this development underscores Texas LNG’s commitment to meeting the needs of its customers and stakeholders.
Brendan Duval, CEO and founder of Glenfarne, expressed pride in the expansion of the partnership with EQT, highlighting the significance of reaching this milestone. He emphasized that Texas LNG has now sold more than half of its permitted capacity, reflecting the strong market interest in the project.
Glenfarne Energy Transition, LLC, a developer, owner, and operator of energy transition infrastructure, plays a pivotal role in the success of Texas LNG. As the majority owner and managing member of Texas LNG, Glenfarne brings extensive expertise and resources to the project. Additionally, Glenfarne is the sole owner and developer of the 8.8 MTPA Magnolia LNG facility in Lake Charles, Louisiana, further solidifying its position in the LNG industry.
The announcement comes on the heels of Texas LNG’s recent offtake agreement with Gunvor, further enhancing its commercial viability. With these agreements in place, Texas LNG is well-positioned to advance towards financial close and the commencement of construction, which is anticipated to take place in the fourth quarter of this year.
Commercial operations for the Texas LNG project are scheduled to commence in 2028. This timeline aligns with the company’s strategic vision and underscores its commitment to delivering high-quality LNG products to its customers.
Overall, the expansion of the partnership with EQT and the progress made on the Texas LNG project reaffirm Glenfarne’s dedication to driving innovation and sustainability in the LNG sector. As the energy landscape continues to evolve, Texas LNG remains poised to play a pivotal role in meeting global energy demands and advancing the transition to cleaner energy sources.
