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Under the SPA, Gunvor Singapore will buy 0.5 mtpa of LNG on a FOB basis for 20 years from Texas LNG, according to a statement by Texas LNG.
The agreement converts a previous non-binding heads of agreement between the two companies announced in March 2024.
The majority of Texas LNG’s offtake volume will be sold under long-term binding agreements.
Texas LNG said it is in the process of converting HOAs with Macquarie and another “highly experienced, investment-grade global LNG player” into definitive agreements.
Kiewit is leading the engineering, procurement, and construction of Texas LNG under a lump-sum turnkey structure.
“Texas LNG is moving rapidly towards a targeted year-end final investment decision,” said Glenfarne CEO and founder Brendan Duval.
“Our agreement with Gunvor continues our progressing of successfully completed commercial contracts, sufficient for FID, for Texas LNG,” he said.
Last month, Glenfarne secured more time from the US FERC to build and place in service its Texas LNG export project.
Texas LNG was granted a five-year extension of time, to November 22, 2029.