Glenfarne Energy Transition’s Texas LNG and EQT execute binding LNG tolling agreement
Texas LNG Brownsville LLC (Texas LNG), a 4 MMtpy liquefied natural gas (LNG) export terminal to be constructed in the Port of Brownsville, Texas, and a subsidiary of Glenfarne Energy Transition, LLC, and EQT Corporation (EQT) have executed a definitive 20-yr tolling agreement for natural gas liquefaction services for 2 MMtpy of LNG. The agreement solidifies the two Heads of Agreement (HOA) signed by Texas LNG and EQT earlier this year.
“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 and Founder and Co-President of Texas LNG. “Beyond this partnership with EQT, Texas LNG is actively converting its other HOAs into definitive agreements in preparation for a final investment decision.”
“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, President and CEO of EQT. “We stand ready to deliver supply to growing LNG markets, helping to strengthen energy security and reduce global emissions via foreign coal displacement.”
More broadly, Texas LNG has also announced offtake agreements for the majority of the project’s remaining offtake. This includes a signed agreement with a top-tier, credit-rated market participant for 500,000 tpy announced earlier this month.
Glenfarne Energy Transition, a developer, owner, and operator of energy transition infrastructure, is the majority owner and managing member of Texas LNG. Texas LNG will begin construction in 2024 and commence commercial operations in 2028. The Glenfarne Energy Transition LNG portfolio also includes the 8.8 MMtpy Magnolia LNG export facility under development in Lake Charles, Louisiana.
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