Texas LNG sells half of capacity from upcoming Brownsville facility following Biden’s LNG export ban overturning

July 03, 2024

(WO) – Texas LNG Brownsville LLC, a subsidiary of Glenfarne Energy Transition, LLC, has signed a non-binding Heads of Agreement (“HOA”) a long-term LNG free-on-board (“FOB”) sale and purchase agreement (“SPA”) for 0.5 MMtpa of LNG from 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,” said Brendan Duval, CEO and Founder, Glenfarne Energy Transition and Co-President of Texas LNG.

Texas LNG is in advanced negotiations with several potential offtakers for the remaining volume of the project.

Glenfarne Energy Transition, a developer, owner, and operator of energy transition infrastructure, is the majority owner and managing member of Texas LNG. Texas LNG will begin construction in 2024 and commence commercial operations in 2028. The Glenfarne Energy Transition LNG portfolio also includes the 8.8 MMtpa Magnolia LNG export facility under development in Lake Charles, Louisiana.

Texas LNG is a 4 MMtpa LNG export facility to be constructed in the Port of Brownsville, Texas. This announcement came on the heels of Biden’s LNG export ban being blocked by a federal judge.

Additionally, following recent HOA announcements with EQT and Gunvor Group, Texas LNG has sold over half of its permitted capacity and will reach financial close and begin construction in 2024, commencing commercial operations in 2028.

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