Texas LNG Signs 20-Year LNG Agreement with EQT

Texas LNG Brownsville LLC ("Texas LNG"), a subsidiary of Glenfarne Energy Transition, LLC ("Glenfarne"), is set to build a four million tonnes per annum ("MTPA") liquefied natural gas ("LNG") export terminal at the Port of Brownsville, Texas. Texas LNG and EQT Corporation ("EQT") have finalized a 20-year tolling agreement for natural gas liquefaction services, covering 2 MTPA of LNG.

The agreement finalizes the two Heads of Agreement (“HOA”) that Texas LNG and EQT signed earlier this year.

"Glenfarne's collaboration with EQT will deliver low-emission natural gas to transitioning and emerging markets, aiding the global shift away from carbon-intensive fuels," stated Brendan Duval, CEO and Founder of Glenfarne and Co-President of Texas LNG. " Alongside its partnership with EQT, Texas LNG is in the process of converting its other Heads of Agreement into definitive contracts as it moves toward making a final investment decision."

Toby Z. Rice, President and CEO of EQT, stated, "Converting our HOA with Texas LNG into a definitive tolling agreement brings us closer to delivering EQT’s dependable, low-emission natural gas to global markets. We are ready to meet the demand of expanding LNG markets, which will bolster energy security and contribute to reducing global emissions by replacing foreign coal."

Additionally, Texas LNG has secured offtake agreements for most of the project's remaining capacity, including a recent agreement with a top-tier, credit-rated market participant for 0.5 MTPA announced earlier this month.

Glenfarne Energy Transition, a developer, owner, and operator of energy transition infrastructure, holds the majority ownership and manages Texas LNG. Construction is set to begin in 2024, with commercial operations expected to start in 2028. Glenfarne Energy Transition’s LNG portfolio includes the 8.8 MTPA Magnolia LNG export facility, which is currently being developed in Lake Charles, Louisiana.

Texas LNG, a subsidiary of global energy transition leader Glenfarne Energy Transition, LLC, will be a 4 MTPA LNG export facility to be built at the Port of Brownsville, Texas. The facility is managed by a skilled team dedicated to developing one of the cleanest and lowest-emission LNG export facilities globally, utilizing electric motor drives.

Glenfarne Energy Transition is a wholly owned subsidiary of Glenfarne Group, a privately held firm specializing in energy and infrastructure development and management, with headquarters in New York City and Houston, Texas. The company also operates offices in Dallas, Texas; Panama City, Panama; Santiago, Chile; Bogotá, Colombia; Barcelona, Spain; and Seoul, South Korea. Glenfarne Energy Transition is committed to addressing global energy transition needs through three core areas: Global LNG Solutions, Renewables, and Grid Stability. Its experienced team of executives, asset managers, and operators is involved in the development, acquisition, management, and operation of energy infrastructure across North and South America.