Gunvor contemplates offtake from Texas LNG

Global commodity trader Gunvor has signed a heads of agreement with Texas LNG, a 4mn tonnes/year liquefaction facility under development in Brownsville, Texas, contemplating the long-term sale and purchase of 500,000 tonnes/year of LNG, Texas LNG said March 18.

“With the previously announced commencement of the execution phase of the project financing process, this agreement aligns with our plan to take a final investment decision on Texas LNG this year,” Texas LNG co-president Vlad Bluzer said.

Texas LNG in January reached a tolling agreement with gas producer EQT for 500,000 tonnes/year of natural gas liquefaction and has recently entered into partnerships with Baker Hughes for gas compression technology, ABB for core automation and electrical equipment and Gulf LNG Tugs of Texas for tugboats to support operations at the terminal.

Texas LNG expects to achieve financial close and begin construction this year, and is targeting commercial operations in 2028.