Glenfarne’s Texas LNG receives local tax abatement

Glenfarne Group’s Texas LNG, the developer of the planned 4 mtpa LNG export terminal in the port of Brownsville, was approved for a Texas tax abatement from Cameron County.

According to a statement by Glenfarne, the Texas Tax Code Chapter 312 tax abatement was approved by a four to one vote of the Cameron County Commissioners Court.

This will “bring Cameron County financial flexibility and funding to bring added services and infrastructure to the area,” it said.

“Cameron County’s approval of this tax abatement is the latest in a series of important developments for Texas LNG, which will start construction later this year,” Glenfarne said.

Glenfarne recently requested more time from the US FERC to build and place in service its Texas LNG export project.

Texas LNG seeks an additional five-year extension to complete construction and place the project in service until November 22, 2029.

Texas LNG executed heads of agreements with EQT Corporation anticipating a definitive
15-year LNG tolling agreement, and with Gunvor for a 20-year LNG tolling agreement for part of the project’s capacity.

Besides these deals, Texas LNG also previously selected Swiss engineering group ABB and US energy services firm Baker Hughes to supply equipment for its LNG project. It also awarded a tugboat contract to Gulf LNG Tugs of Texas.

These partnerships total nearly one billion dollars of investment into the project, according to the firm.

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