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According to a statement by Glenfarne, Texas LNG entered into the deal with a “highly experienced, investment-grade, global LNG player” for a long-term LNG sale and purchase agreement.
Glefarne did not reveal the name of the buyer or the quantities.
“With this announcement, Texas LNG has now secured customer offtake commitments in a volume sufficient for achieving final investment decision,” it said.
The company expects to begin construction in 2024.
Brendan Duval, Glenfarne’s CEO and founder and co-president of Texas LNG said, “our strong and diversified customer base, which fortifies Texas LNG’s FID financeability, now includes the largest producer of natural gas in America, a leading global financial institution, one of the world’s largest independent commodities traders, and a major global LNG player.”
“We look forward to advancing Texas LNG alongside our world-class project partners,” he said.
In July, US natural gas producer EQT entered into a binding agreement for liquefaction services from Texas LNG’s planned facility in Brownsville to produce 2 mtpa of LNG under a 20-year tolling agreement.
This binding deal solidifies the two heads of agreement signed earlier this year.
In January, the two firms entered into a heads of agreement for liquefaction services for 0.5 mtpa of LNG under a 15-year tolling agreement.
After that, the two firms signed a new heads of agreement in April for 1.5 mtpa, boosting the total to 2 mtpa.
In March, Texas LNG signed a long-term supply deal with a unit of Geneva-based trader Gunvor.
This deal is for 0.5 mtpa of LNG on a FOB basis for 20 years.
Texas LNG also recently entered into a deal with a “top-tier credit-rated market participant” for a long-term LNG free-on-board sale and purchase agreement for 0.5 mtpa of LNG.
Besides these deals, Texas LNG also previously selected Swiss engineering group ABB and US energy services firm Baker Hughes to supply equipment for its LNG project. It also awarded a tugboat contract to Gulf LNG Tugs of Texas.
These partnerships total nearly one billion dollars of investment into the project, according to the firm.
Glenfarne also requested more time from the US FERC to build and place in service its Texas LNG export project.
Texas LNG sought an additional five-year extension to complete construction and place the project in service until November 22, 2029.
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The post Glenfarne’s Texas LNG seals new offtake deal appeared first on Energy News Beat.
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