Glenfarne Energy Transition’s Texas LNG Sells Over Half of Offtake with an Additional LNG Tolling Agreement with EQT

Texas LNG Brownsville LLC (“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”), has signed a second Heads of Agreement (“HOA”) with EQT Corporation (“EQT”) for natural gas liquefaction services for an additional 1.5 MTPA of LNG over 20 years. This transaction expands Texas LNG’s total HOA volume with EQT to 2 MTPA. Final terms remain subject to the negotiation of a definitive 20-year LNG tolling agreement. With this transaction and Texas LNG’s recently announced offtake agreement with Gunvor, only 1.5 MTPA of additional offtake is pending public announcement to reach Texas LNG’s fully permitted capacity.

“We are proud to expand our partnership with EQT with today’s announcement. Texas LNG has sold more than half of its permitted capacity. With this announcement with EQT and additional offtake sales to be announced soon, we will reach financial close and the start of construction in the fourth quarter this year,” said Brendan Duval, Glenfarne CEO and Founder.

Glenfarne, a developer, owner, and operator of energy transition infrastructure, is the majority owner and managing member of Texas LNG. Glenfarne is also the sole owner and developer of the 8.8 MTPA Magnolia LNG in Lake Charles, Louisiana.

Texas LNG will commence commercial operations in 2028. Texas LNG and EQT announced an initial agreement in January 2024 for 0.5 MTPA of tolling capacity.