(Source: Shutterstock.com)
Glenfarne Energy Transition has an agreement to sell more than half of the permitted capacity of the Texas LNG Brownsville plant, the company said on July 2.
Texas LNG signed a nonbinding heads of agreement for long-term purchases for 500,000 tons per year of LNG. Glenfarne did not name the customer but described the company as a “top-tier credit-rated market participant.” Along with recent agreements with EQT and the Gunvor Group, Texas LNG has contracted more than half of its permitted capacity. Those agreements are also nonbinding.
“This agreement positions Texas LNG on the verge of full sellout, and we look forward to finalizing our offtake partnerships in the near future,” Glenfarne CEO Brendan Duval said in the press release.
Texas LNG will be built in the port of Brownsville, Texas, with a capacity of 4 million tonnes per year of LNG.
Glenfarne plans to begin plant construction this year. Commercial operations are planned to start in 2028, according to a press release.
The project was initially slated to be completed in 2024 but ran into delays, including a lawsuit from the Sierra Club challenging the permit approvals by the state and the Federal Energy Regulatory Commission.
In May, the company requested an extension with FERC to push the required completion date back to 2029.
Recommended Reading
Not Sweating DeepSeek: Exxon, Chevron Plow Ahead on Data Center Power
2025-02-02 - The launch of the energy-efficient DeepSeek chatbot roiled tech and power markets in late January. But supermajors Exxon Mobil and Chevron continue to field intense demand for data-center power supply, driven by AI technology customers.
Oil, Gas and M&A: Banks ‘Hungry’ to Put Capital to Work
2025-01-29 - U.S. energy bankers see capital, generalist investors and even an appetite for IPOs returning to the upstream space.
Ovintiv Names Terri King as Independent Board Member
2025-01-28 - Ovintiv Inc. has named former ConocoPhillips Chief Commercial Officer Terri King as a new independent member of its board of directors effective Jan. 31.
Riverstone’s Leuschen Plans to IPO Methane-Mitigation-Focused SPAC
2025-01-21 - The SPAC will be Riverstone Holdings co-founder David Leuschen’s eighth, following the Permian Basin’s Centennial Resources, the Anadarko’s Alta Mesa Holdings and the Montney’s Hammerhead Resources.
The Private Equity Puzzle: Rebuilding Portfolios After M&A Craze
2025-01-28 - In the Haynesville, Delaware and Utica, Post Oak Energy Capital is supporting companies determined to make a profitable footprint.
Comments
Add new comment
This conversation is moderated according to Hart Energy community rules. Please read the rules before joining the discussion. If you’re experiencing any technical problems, please contact our customer care team.