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Texas LNG Brownsville LLC, a 4 million tpy LNG export terminal to be constructed within the Port of Brownsville, Texas, a subsidiary of Glenfarne Power Transition, LLC, has signed a Heads of Settlement (HoA) with Gunvor Group by way of its subsidiary Gunvor Singapore Pte Ltd for a 20-year LNG FOB sale and buy settlement (SPA) for 500 000 tpy of LNG from Texas LNG.
“We’re thrilled to welcome Gunvor to our portfolio of consumers, connecting Texas LNG, one of many lowest-emitting liquefaction services on this planet, with world economies in want of dependable, sustainable vitality,” mentioned Brendan Duval, CEO and Founder, Glenfarne Power Transition and Co-President of Texas LNG.
“With the beforehand introduced graduation of the execution part of the venture financing course of, this settlement aligns with our plan to take a remaining funding choice on Texas LNG this yr,” mentioned Vlad Bluzer, Co-President of Texas LNG.
“We’re happy to have executed this settlement and turn into one of many basis consumers of the Texas LNG venture. Gunvor continues to help US LNG export initiatives, unlocking new provides for the worldwide vitality market and offering vitality safety particularly to our prospects in Europe and Asia” mentioned Kalpesh Patel, Co-Head of LNG Buying and selling of Gunvor.
This information follows Texas LNG’s not too long ago introduced LNG tolling settlement with EQT Company. Texas LNG additionally not too long ago introduced partnerships with Baker Hughes, ABB, and Gulf LNG Tugs of Texas. These partnerships whole practically one billion {dollars} of funding into the venture.
Glenfarne Power Transition, a developer, proprietor, and operator of vitality transition infrastructure, is almost all proprietor and managing member of Texas LNG. Texas LNG will obtain monetary shut and start building in 2024 commencing industrial operations in 2028. Glenfarne Power Transition can also be the only real proprietor and developer of the 8.8 million tpy Magnolia LNG in Lake Charles, Louisiana.
Learn the article on-line at: https://www.lngindustry.com/liquid-natural-gas/19032024/glenfarne-energy-transition-texas-lng-announces-lng-offtake-agreement-with-gunvor-group/
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