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Glenfarne’s Texas LNG updates business standing

by manusohal
January 26, 2024
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Glenfarne’s Texas LNG updates business standing
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Texas LNG, a 4 million tpy LNG export terminal to be constructed within the Port of Brownsville, Texas, and a subsidiary of Glenfarne Power Transition, LLC, a world vitality transition chief offering important options to decrease the world’s carbon footprint, obtained its Part 10 and Part 404 permits from the US Military Corps of Engineers (USACE) and Texas state-level approval from the Railroad Fee of Texas underneath The Coastal Zone Administration Act of 1972, finishing the challenge’s allowing efforts required for a ultimate funding resolution.

Glenfarne’s Texas LNG updates commercial status

This information follows Texas LNG’s current announcement that it signed a Heads of Settlement (HOA) with EQT Company (EQT) for pure fuel liquefaction companies for 0.5 million tpy of LNG. Texas LNG is in superior levels of negotiations for the remaining volumes from the challenge anticipated to conclude within the near-term together with finalising beforehand executed, however unannounced, HOA’s and Memorandums of Understanding.

“With these permits in hand and contracts signed, Glenfarne anticipates concluding commercialisation of Texas LNG in 1H24. Texas LNG has each its Federal Power Regulatory Fee allow and Division of Power non-Free Commerce Settlement allow in hand, and we imagine that makes the challenge among the many most engaging choices for contracting US LNG. I’m immensely pleased with the staff’s capability to take this challenge from idea to actuality working with industry-leading companions and prospects, and we look ahead to closing our financing and commencing building later this yr,” stated Brendan Duval, CEO and Founding father of Glenfarne Power Transition.

Glenfarne lately introduced partnerships with Bakes Hughes and ABB to assist develop the terminal, representing greater than half a billion {dollars}’ value of kit choices for Texas LNG so far. Texas LNG expects to shut its challenge financing in 2024 with building commencing shortly thereafter. The primary LNG exports from Texas LNG are anticipated to be shipped in 2028.

Texas LNG was designed to be one of many lowest-emitting export terminals on the planet, offering dependable, responsibly sourced US LNG that may assist gasoline the worldwide vitality transition to renewables and reinforce vitality safety.

Learn the article on-line at: https://www.lngindustry.com/liquid-natural-gas/26012024/glenfarnes-texas-lng-updates-commercial-status/



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