20-year offtake lands on LNG project’s table in Lone Star State
Texas LNG, a subsidiary of Glenfarne Energy Transition, has secured an offtake deal with Macquarie Energy, a subsidiary of Macquarie Group, for a liquefied natural gas (LNG) export facility to be constructed in the Port of Brownsville, Texas.
While disclosing a definitive 20-year sales and purchase agreement (SPA) with Macquarie for the Texas LNG project, Glenfarne explains that this deal is for 0.5 million tonnes per annum (mtpa) of LNG, which converts a previous non-binding heads of agreement between the two companies into a binding definitive agreement.
Brendan Duval, Chief Executive Officer and Founder of Glenfarne Group, commented: “Our offtake agreement with Macquarie reinforces Texas LNG’s position as one of the most competitive LNG export projects in the world.
“Macquarie is a world-class partner, and their participation in our offtake portfolio demonstrates strong confidence in Glenfarne’s ability to deliver a reliable, low-emissions source of U.S. LNG to global markets.”
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South Texas LNG project cleared for completion in late 2029
This agreement, along with the
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