Texas LNG pens 20-year definitive tolling agreement with EQT

Glenfarne Group LLC's Texas LNG has executed a definitive 20-year tolling agreement for natural gas liquefaction services with EQT Corporation for 2mn tonnes/year of LNG, the company announced on July 23. This agreement solidifies the two heads of agreement signed by Texas LNG and EQT earlier this year, with the first HOA signed in January and the second in April. 

“Glenfarne’s partnership with EQT will bring low-emission natural gas to transitioning and emerging markets, powering the globe’s phase-out of legacy, carbon-intensive fuels,” said Brendan Duval, Glenfarne CEO.

Texas LNG has announced offtake agreements for the majority of the project’s remaining capacity. This includes a signed agreement with an “affiliate of a top-tier credit-rated market participant” for 0.5mn tonnes/year, announced earlier this month.

“Converting our HOA with Texas LNG to a definitive tolling agreement brings us one step closer to unleashing EQT’s reliable, low-emissions natural gas on the global stage,” said Toby Z. Rice, CEO of EQT.

Glenfarne Energy Transition is the majority owner and managing member of Texas LNG. The 4mn tonnes/year Texas LNG facility will begin construction in 2024 and commence commercial operations in 2028. The Glenfarne Energy Transition LNG portfolio also includes the 8.8mn tonnes/year Magnolia LNG export facility under development in Lake Charles, Louisiana.

Texas LNG has collaborated with global technology leader ABB to provide the project's core automation and electrical equipment.