Glenfarne Energy Transition announced Sept. 11 that an unnamed customer has provided the financial support needed for a final investment decision (FID) to be made on the company's Texas LNG project. (Source: Glenfarne Energy Transition)
Glenfarne Energy Transition announced Sept. 11 that an unnamed customer has provided the financial support needed for a final investment decision (FID) to be made on the company's Texas LNG project.
Texas LNG is a proposed LNG liquefication and export facility with 4 MMton/year of LNG capacity to be built in the South Texas Port of Brownsville. In July, the company announced it had secured non-binding contracts for half of the plant’s capacity.
On Sept. 11, the company announced in a press release it had reached another preliminary heads of agreement with an unspecified customer Glenfarne described as a “highly experienced, investment-grade, global LNG player.”
Glenfarne, an international company based in Houston and New York, has identified EQT and the Gunvor Group as part of the Texas LNG customer base. All agreements are non-binding.
“We are grateful that our customers have chosen Texas LNG, designed to be the lowest emitting LNG facility in the United States, to make a significant investment in the global energy transition,” said Brendan Duval, CEO and founder of Glenfarne Energy Transition, in a press release.
Construction on the plant is scheduled to begin this year, though the project is one of two LNG sites that had permits pulled after a court ruling in August.
The D.C. Circuit Court of Appeals vacated permits from the U.S. Federal Energy Regulatory Commission for Texas LNG and NextDecade’s Rio Grande LNG, saying the FERC needed to reconsider the projects’ effect on global warming.
After the ruling, a Glenfarne spokesman said the company had confidence the FERC would address the matter with the court.
Texas LNG has not been affected by the Department of Energy’s “pause” on new LNG permits for trade with non-free trade agreement countries. The company obtained the permit before the pause went into effect.
Recommended Reading
Oil Prices Rise as OPEC+ Considers Delaying December Output Increase
2024-10-30 - Oil prices rose more than 2% on Oct. 30 after Reuters reported that OPEC+ could delay a planned oil production increase in December by a month or more because of concern over soft oil demand and rising supply.
Oil Prices Jump 4% on US Storm, Israel-Iran Fears
2024-10-10 - Oil prices jumped about 4% on Oct. 10 on a spike in U.S. fuel use before Hurricane Milton barreled across Florida, Middle East supply risks and signs that demand for energy could grow in the U.S. and China.
OPEC+ Agrees to Delay October Output Hike for Two Months, Sources Say
2024-09-05 - Oil prices edged up from multi-month lows on reports of an OPEC+ delay as well as a decline in U.S. inventories, though gains were capped by persistent demand concerns.
Oil Settles $1 Down After US Job Data Revised Significantly Lower
2024-08-21 - U.S. employers added far fewer jobs than originally reported in the year through March, the Labor Department said on Aug. 21.
Francine Closes, Restricts Oil Export Ports, Shuts in 42% of GoM Oil
2024-09-13 - In addition to hampering ports and refineries, an estimated 41.74% of Gulf of Mexico oil production, or 730,472 bbl/d, has been shut in.
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.