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Printed by Theodore Reed-Martin,
Editorial Assistant
LNG Trade,
Texas LNG, a 4 million tpy LNG export terminal to be constructed within the Port of Brownsville, and a subsidiary of Glenfarne Vitality Transition, LLC (Glenfarne), a world power transition chief offering vital options to decrease the world’s carbon footprint, has obtained ample expressions of curiosity from main venture finance banks to maneuver to the execution part of venture financing. Glenfarne has additionally appointed Latham & Watkins as Borrower’s counsel and Milbank as Lenders’ counsel for the issuance.
These lenders have been key supporters of Glenfarne, having led over US$4 billion of financing to Glenfarne’s companies during the last 10 years, supporting the acquisition and/or building of varied power transition centered property. Moreover, these banks are energetic in LNG, having participated in roughly US$44 billion of venture finance debt to the US LNG sector alone during the last 24 months.
“Texas LNG’s financing consortium shall be comprised of the world’s main establishments that recognise the attributes of the venture and Glenfarne’s wonderful historical past of constructing power transition infrastructure,” stated Brendan Duval, CEO and Founding father of Glenfarne Vitality Transition.
In the present day’s information follows Texas LNG’s latest announcement that it signed a Heads of Settlement (HOA) with EQT Company (EQT) for pure gasoline liquefaction companies for 0.5 million tpy of LNG. Texas LNG additionally not too long ago introduced partnerships with Baker Hughes and ABB to assist develop the terminal, representing greater than half a billion {dollars}’ price of kit choices for Texas LNG to this point.
The primary LNG exports from Texas LNG are anticipated to be shipped in 2028.
Learn the article on-line at: https://www.lngindustry.com/liquid-natural-gas/15032024/glenfarne-energy-transitions-texas-lng-moves-to-execution-phase/
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