Glenfarne’s Texas LNG pens new offtake deal

Glenfarne Group’s Texas LNG has signed a new heads of agreement to supply liquefied natural gas from its planned 4 mtpa LNG export terminal in the port of Brownsville.

According to a statement by Glenfarne, Texas LNG entered into the deal with a “top-tier credit-rated market participant” for a long-term LNG free-on-board sale and purchase agreement for 0.5 mtpa of LNG.

Glefane did not reveal the name of the buyer.

Texas LNG is in “advanced negotiations with several potential offtakers” for the remaining volume of the project, it said.

The company expects to begin construction in 2024.

Brendan Duval, Glenfarne’s CEO and founder and co-president of Texas LNG said, “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.”

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.

In April, 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.

These two deals total 2.5 mtpa of LNG.

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.

Most Popular

QatarEnergy CEO says damaged Ras Laffan LNG trains to take three years to repair

State-owned LNG giant QatarEnergy expects the damage to two liquefaction trains at its giant Ras Laffan complex to take three years to repair, according to Qatar’s energy minister and CEO of QatarEnergy, Saad Sherida Al-Kaabi.

Glencore pens Chinese LNG supply deal

Switzerland-based energy trader Glencore has signed a long-term deal to supply liquefied natural gas (LNG) to a unit of China Suntien Green Energy.

Equinor seals long-term LNG SPA with Thailand’s PTT

Norwegian energy firm Equinor has signed a long-term LNG sales and purchase agreement with a unit of Thailand’s PTT.

More News Like This

Glenfarne names Oliver Wood as global head of projects

US energy firm and LNG terminal developer Glenfarne has promoted Texas LNG director Oliver Wood to global head of projects.

Glenfarne’s Magnolia LNG seals feed gas deal

Glenfarne’s Magnolia LNG has signed a long-term feed gas deal with Texas Eastern Transmission for its planned liquefaction and export plant in Louisiana.

HPS to invest $500 million in Glenfarne’s Texas LNG

New York-based HPS Investment Partners, part of BlackRock, has decided to invest $500 million in Glenfarne's 4 mtpa Texas LNG export terminal in the port of Brownsville as the project nears a final investment decision.

Glenfarne’s commodities unit, BGN ink preliminary LNG supply deal

Glenfarne's unit Glenfarne Global Commodities has signed a heads of agreement with Switzerland-based energy trader BGN for the long-term supply of liquefied natural gas (LNG).