Texas LNG, a proposed four million tonnes per annum liquefied natural gas (LNG) export terminal, has now had over half of its product sold through several offtake agreements.
Glenfarne Energy Transition is leading the project and recently announced the signing of a second heads of agreement with EQT Corporation for natural gas liquefaction services and an additional 1.5 million tonnes per annum of LNG over a 20-year period.
The deal expands Texas LNG’s total heads of agreement volume with US energy company EQT to two million tonnes per annum. The duo signed the first agreement in January 2024.
Read more: Texas LNG Brownsville signs tolling agreement with EQT
Brendan Duval, founder and CEO of Glenfarne, said that Texas LNG has now sold more than half of its permitted capacity.
He continued, “With this announcement with EQT and additional offtake sales to be announced soon, we will reach financial close and the start of construction in the fourth quarter of this year.”
With the EQT agreement and Texas LNG’s other recently announced offtake deal with Gunvor, only 1.5 million tonnes per annum of additional offtake remain to reach Texas LNG’s fully permitted capacity.
Read more:Texas LNG signs 20-year LNG offtake deal with Gunvor Group
Glenfarne also recently announced partnerships with Baker Hughes and ABB to help develop the terminal, representing more than half a billion dollars’ worth of equipment selections for Texas LNG to date.
Texas LNG expects to close its project financing in 2024, with construction commencing shortly thereafter. The first LNG exports from Texas LNG are expected to be shipped in 2028.
Glenfarne, a developer, owner, and operator of energy transition infrastructure, is the majority owner and managing member of Texas LNG. The company is also the sole owner and developer of the 8.8 million tonnes per annum Magnolia LNG in Lake Charles, Louisiana.
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