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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Contacts
Kris Cole
pro-texaslng@prosek.com
