Texas LNG Brownsville LLC, a four million tonnes per annum liquefied natural gas export terminal to be constructed in the Port of Brownsville, Texas, has signed a definitive 20-year Sales and Purchase Agreement with Gunvor Singapore Pte Ltd for 0.5 MTPA of LNG from Texas LNG on a Free on Board basis.
The agreement converts a previous non-binding Heads of Agreement between the two companies. Texas LNG Brownsville LLC is a subsidiary of Glenfarne Energy Transition, LLC, and Gunvor Singapore Pte Ltd is a subsidiary of Gunvor Group.
Our agreement with Gunvor continues our progressing of successfully completed commercial contracts, sufficient for FID, for Texas LNG.
“Texas LNG is moving rapidly towards a targeted year-end Final Investment Decision,” said Glenfarne Chief Executive Officer and Founder Brendan Duval. “Our agreement with Gunvor continues our progressing of successfully completed commercial contracts, sufficient for FID, for Texas LNG. Together with the advanced state of project financing and completion of the FERC process last month, this project is poised to unlock the superior benefits of clean, reliable U.S. LNG for Gunvor and our other partners.”
“As one of the foundation customers of Texas LNG, we are pleased to complete this agreement and open up new sources of U.S. LNG to meet the growing demand for secure energy in overseas markets,” said Kalpesh Patel, Co-Head of LNG Trading of Gunvor.
The majority of Texas LNG’s offtake volume will be sold under long-term binding agreements. Texas LNG is in the process of converting HOAs with Macquarie and another highly experienced, investment-grade global LNG player into definitive agreements. Kiewit is leading the engineering, procurement, and construction of Texas LNG under a lump-sum turnkey structure.
