HOUSTON–(BUSINESS WIRE)–Glenfarne Group’s Texas LNG project has signed a definitive 20-year Sales and Purchase Agreement with Macquarie Energy LLC, a subsidiary of Macquarie Group Limited (“Macquarie”), a global trading and financial services group, for 0.5 MTPA of LNG. The agreement converts a previous non-binding Heads of Agreement between the two companies into a binding definitive agreement.
“Our offtake agreement with Macquarie reinforces Texas LNG’s position as one of the most competitive LNG export projects in the world,” said Brendan Duval, Chief Executive Officer and Founder of Glenfarne Group. “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.”
Michael Bennett, Managing Director in Macquarie’s Commodities and Global Markets business added, “This agreement with Texas LNG reflects our commitment to meeting the diverse energy needs of our clients around the world and adds to the strength of our offering in this space. LNG is a critical component of the global energy mix, providing a reliable and flexible fuel source, and we are proud to work with Glenfarne and Texas LNG to help provide energy supply to regions where demand is rapidly increasing.”
This agreement, along with the three previously announced Texas LNG offtake agreements, brings Texas LNG one step closer to a final investment decision. Texas LNG is a “Green by Design” liquefaction facility designed to significantly reduce operational CO2 emissions. Kiewit has been contracted for final front-end engineering design and to lead the engineering, procurement, and construction of Texas LNG under a lump-sum turnkey agreement.
About Texas LNG
Texas LNG is an LNG export facility to be constructed in the Port of Brownsville, Texas and a subsidiary of global energy transition leader Glenfarne Energy Transition, LLC. Texas LNG is led by an experienced team committed to creating one of the cleanest, lowest-emitting LNG export facilities in the world through electric motor drives. Additional information about Texas LNG may be found on its website at www.texaslng.com.
About Glenfarne Group
Glenfarne Group is a privately held global developer, owner, and operator of energy infrastructure assets. Through its subsidiaries, Glenfarne owns and operates over 60 energy assets through three core businesses: Global LNG Solutions, Grid Stability, and Renewables. Glenfarne’s permitted North American LNG portfolio totals 32.8 MTPA of capacity under development in Alaska, Louisiana, and Texas. For more information, please visit www.glenfarne.com.
About Macquarie Group
Founded in 1969, Macquarie Group (Macquarie) employs over 19,000 people in 31 markets. Commodities and Global Markets, an operating group of Macquarie, has more than 45 years of working with clients to provide capital and financing, risk management, market access, and physical execution and logistics solutions across commodities, financial markets and asset finance sectors. For further information, visit our website.
Contacts
Texas LNG – Tim Fitzpatrick
[email protected]
(907) 717-4978
Macquarie – Benjamin Cohen
[email protected]
(332) 238 8385
