Glenfarne Energy Transition’s Texas LNG Updates Commercial Status and Concludes Required Permitting for Final Investment Decision
NEW YORK & BROWNSVILLE, Texas–(BUSINESS WIRE)–Today, Texas LNG, a four million tonnes per annum (“MTPA”) liquefied natural gas (“LNG”) export terminal to be constructed in the Port of Brownsville, Texas, and a subsidiary of Glenfarne Energy Transition, LLC (“Glenfarne”), a global energy transition leader providing critical solutions to lower the world’s carbon footprint, received its Section 10 and Section 404 permits from the U.S. Army Corps of Engineers (“USACE”) and Texas state-level approval from the Railroad Commission of Texas under The Coastal Zone Management Act of 1972, completing the project’s permitting efforts required for a final investment decision.
This news follows Texas LNG’s recent announcement that it signed a Heads of Agreement (“HOA”) with EQT Corporation (“EQT”) for natural gas liquefaction services for 0.5 MTPA of LNG. Texas LNG is in advanced stages of negotiations for the remaining volumes from the project expected to conclude in the near-term including finalizing previously executed, but unannounced, HOA’s and Memorandums of Understanding.
Brendan Duval, CEO and Founder of Glenfarne Energy Transition, said: “With these permits in hand and contracts signed, Glenfarne anticipates concluding commercialization of Texas LNG in the first half of 2024. Texas LNG has both its Federal Energy Regulatory Commission permit and Department of Energy non-Free Trade Agreement permit in hand, and we believe that makes the project among the most attractive options for contracting U.S. LNG. I am immensely proud of the team’s ability to take this project from concept to reality working with industry-leading partners and customers, and we look forward to closing our financing and commencing construction later this year.”
Glenfarne recently announced partnerships with Baker Hughes and ABB to help develop the terminal, representing more than half a billion dollars’ worth of equipment selections for Texas LNG to date. Texas LNG expects to close its project financing in 2024 with construction commencing shortly thereafter. The first LNG exports from Texas LNG are expected to be shipped in 2028.
Texas LNG was designed to be one of the lowest-emitting export terminals on the planet, providing reliable, responsibly sourced U.S. LNG that can help fuel the global energy transition to renewables and reinforce energy security.
About Texas LNG
Texas LNG is a 4 MTPA LNG export facility to be constructed in the Port of Brownsville, Texas and a subsidiary of global energy transition leader, Glenfarne Energy Transition, LLC. Texas LNG is led by an experienced team committed to creating one of the greenest LNG facilities in the world through electric motor drives resulting in the cleanest, lowest emitting LNG exports from the U.S. Additional information about Texas LNG may be found on its website at www.texaslng.com.
About Glenfarne Energy Transition
Glenfarne Energy Transition, LLC is a subsidiary of Glenfarne Group, LLC, a privately held energy and infrastructure development and management firm based in New York City and Houston, Texas, with offices in Dallas, Texas; Panama City, Panama; Santiago, Chile; Bogota, Colombia; Barcelona, Spain; and Seoul, South Korea. Glenfarne Energy Transition aims to address the “here and now” global energy transition through three core businesses: Global LNG Solutions, Renewables, and Grid Stability. The company’s seasoned executives, asset managers, and operators develop, acquire, manage, and operate energy infrastructure assets throughout North and South America. For more information, please visit www.GlenfarneEnergyTransition.com.
Contacts
Kris Cole
Pro-glenfarne@prosek.com
(310) 652-1411
