Blog Post

Texas LNG Offtake Agreement

John Plesnicar • 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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