Texas LNG Brownsville, a subsidiary of Glenfarne Energy Transition, has signed a Heads of Agreement with Gunvor Group through its subsidiary Gunvor Singapore for a 20-year LNG FOB sale and purchase agreement (SPA) for 0.5 MTPA of LNG from Texas LNG.
‘We’re thrilled to welcome Gunvor to our portfolio of customers, connecting Texas LNG, one of the lowest-emitting liquefaction facilities in the world, with global economies in need of reliable, sustainable energy,’ says Brendan Duval, CEO and founder of Glenfarne Energy Transition and co-president of Texas LNG.
‘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,’ adds Vlad Bluzer, co-president of Texas LNG.
‘We are pleased to have executed this agreement and become one of the foundation buyers of the Texas LNG project. Gunvor continues to support US LNG export projects, unlocking new supplies for the global energy market and providing energy security especially to our customers in Europe and Asia,’ says Kalpesh Patel, co-head of LNG Trading at Gunvor.
Texas LNG will achieve financial close and begin construction in 2024 commencing commercial operations in 2028. The terminal is set to be constructed in the Port of Brownsville, Texas, with a capacity of 4 million tonnes of LNG per annum.
