Blog Post

Texas LNG Offtake Agreement

July 3, 2024

Glenfarne Energy Transition Has Announced Texas LNG Has Signed an LNG Offtake Agreement with an Affiliate of Top Tier Market Participant

Key Points:

  • Agreement Signed:
  • Texas LNG Brownsville LLC ("Texas LNG") has signed a non-binding Heads of Agreement ("HOA").
  • The agreement is with an affiliate of a top-tier credit-rated market participant.
  • The agreement is for a long-term LNG free-on-board ("FOB") sale and purchase agreement ("SPA") for 0.5 MTPA of LNG.
  • Texas LNG Overview:
  • Texas LNG is a 4 MTPA LNG export terminal.
  • Located in the Port of Brownsville, Texas.
  • Subsidiary of Glenfarne Energy Transition, LLC.
  • Leadership Statement:
  • Brendan Duval, CEO and Founder of Glenfarne Energy Transition and Co-President of 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."
  • Project Status:
  • Texas LNG is in advanced negotiations with several potential offtakers for the remaining volume.
  • Construction scheduled to begin later in 2024.
  • Commercial operations scheduled to commence in 2028.
  • Glenfarne Energy Transition:
  • Developer, owner, and operator of energy transition infrastructure.
  • Majority owner and managing member of Texas LNG.
  • Portfolio includes the 8.8 MTPA Magnolia LNG export facility in Lake Charles, Louisiana.

About Texas LNG:

  • Facility:
  • 4 MTPA LNG export facility.
  • Located in the Port of Brownsville, Texas.
  • Aims to be one of the cleanest, lowest emitting LNG export facilities globally.
  • Utilizes electric motor drives.

About Glenfarne Energy Transition, LLC:

  • Parent Company: Glenfarne Group.
  • Headquarters: New York City and Houston, Texas.
  • Offices: Dallas, Texas; Panama City, Panama; Santiago, Chile; Bogota, Colombia; Barcelona, Spain; Seoul, South Korea.
  • Core Businesses:
  • Global LNG Solutions.
  • Renewables.
  • Grid Stability.
  • Operations: Develops, acquires, manages, and operates energy infrastructure assets in North and South America.

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