Texas LNG inks additional offtake

Texas LNG Brownsville said July 2 it had signed a non-binding heads of agreement (HOA) with an “affiliate of a top-tier credit-rated market participant” for a long-term free-on-board sale and purchase of 500,000 tonnes/year of LNG.

Glenfarne Energy Transition, majority owner and operator of Texas LNG, said it would not be disclosing the identity of the counterparty at this time, but did say that combined with recent HOAs with EQT and Gunvor Group, well over half of Texas LNG’s permitted capacity had been sold.

“This agreement positions Texas LNG on the verge of full sell out, and we look forward to finalising our offtake partnerships in the near future,” Glenfarne CEO Brendan Duval said.

Texas LNG is in advanced negotiations with several potential offtakers for the remaining 1mn tonnes/year of the facility’s capacity. EQT’s HOA is for 2mn tonnes/year, while the HOA with Gunvor contemplates a 20-year sale and purchase of 500,000 tonnes/year.

Glenfarne said it expects to reach financial close and begin construction on Texas LNG this year, with commercial operations anticipated in 2028.