Texas LNG Secures Final Investment Decision with New Offtake Agreement
(P&GJ) — Texas LNG Brownsville LLC, a subsidiary of Glenfarne Energy Transition, has secured enough customer commitments to move forward with its liquefied natural gas (LNG) export terminal project in the Port of Brownsville, Texas.
The company recently signed a new heads of agreement (HOA) with a global LNG player, boosting its total offtake agreements.
This new agreement follows previous deals with EQT Corporation, Gunvor Group, and Macquarie Group, bringing Texas LNG to the threshold of making a final investment decision (FID). The Texas LNG terminal is set to have a capacity of four million tonnes per annum (MTPA) and aims to be the lowest-emitting LNG facility in the U.S.
Glenfarne Energy Transition, which is also developing the Magnolia LNG export facility in Louisiana, is the majority owner of Texas LNG. CEO Brendan Duval expressed enthusiasm about the project’s progress and the support from a diverse range of high-profile customers.
With these commitments, Texas LNG is positioned to proceed with its development, contributing to the global energy transition.
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