Glenfarne Group’s Texas LNG project has signed a definitive 20-year Sales and Purchase Agreement with Macquarie Energy LLC, a subsidiary of Macquarie Group Limited (“Macquarie”), a global trading and financial services group, for 0.5 MTPA of LNG. The agreement converts a previous non-binding Heads of Agreement between the two companies into a binding definitive agreement.
“Our offtake agreement with Macquarie reinforces Texas LNG’s position as one of the most competitive LNG export projects in the world,” said Brendan Duval, Chief Executive Officer and Founder of Glenfarne Group. “Macquarie is a world-class partner, and their participation in our offtake portfolio demonstrates strong confidence in Glenfarne’s ability to deliver a reliable, low-emissions source of U.S. LNG to global markets.”
Michael Bennett, Managing Director in Macquarie’s Commodities and Global Markets business added, “This agreement with Texas LNG reflects our commitment to meeting the diverse energy needs of our clients around the world and adds to the strength of our offering in this space. LNG is a critical component of the global energy mix, providing a reliable and flexible fuel source, and we are proud to work with Glenfarne and Texas LNG to help provide energy supply to regions where demand is rapidly increasing.”
This agreement, along with the three previously announced Texas LNG offtake agreements, brings Texas LNG one step closer to a final investment decision. Texas LNG is a “Green by Design” liquefaction facility designed to significantly reduce operational CO2 emissions. Kiewit has been contracted for final front-end engineering design and to lead the engineering, procurement, and construction of Texas LNG under a lump-sum turnkey agreement.
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