EQT enters into 15-year tolling agreement with Texas LNG
(WO) – EQT Corporation it has entered into a Heads of Agreement ("HOA") for liquefaction services from Texas LNG's facility in Brownsville, Texas, to produce 0.5 MMtpa of LNG under a 15-year tolling agreement. Texas LNG, a subsidiary of Glenfarne Energy Transition, LLC, anticipates a final investment decision on the project in 2024, with first cargo deliveries expected in 2028.
Toby Z. Rice, President and CEO, said, "This HOA with Texas LNG highlights continued momentum behind EQT's differentiated LNG strategy, which is focused on achieving the best combination of upside exposure and downside risk mitigation. Our tolling capacity gives us direct connectivity to end users of natural gas globally, allowing for end-market structuring flexibility and superior downside protection."
Rice continued, "EQT's low-cost structure, peer-leading core inventory depth and environmental attributes uniquely position us to compete and win in the global energy arena and we believe the international market will increasingly covet our molecules as a long-duration secure supply source that can drive meaningful emissions reductions via coal displacement."
EQT Corporation is an independent natural gas production company with operations focused in the cores of the Marcellus and Utica shales in the Appalachian basin.
Lead image source: Texas LNG
