Glenfarne Group LLC's proposed Texas LNG export plant in Brownsville has signed an additional tolling agreement with EQT Corp., the U.S. energy company said on April 23.
Tolling agreements are fee-for-service deals in which the gas provider pays the company to convert gas to LNG, which it then sells to its customers.
According to the terms of the agreement, the Texas terminal will provide natural gas liquefaction services of an additional 1.5 million tons per annum (mtpa) over 20 years, taking the total supply volume to EQT to 2 mtpa.
The Texas LNG export plant, which is designed to produce about 4 mtpa of LNG, has now sold over half its offtake.
"With this announcement with EQT and additional offtake sales to be announced soon, we will reach financial close and the start of construction in the fourth quarter this year," Glenfarne CEO Brendan Duval said.
In January, Glenfarne said it hoped to give the Texas LNG project a financial go-ahead this year.
Recommended Reading
VanLoh: US Energy Security Needs ‘Manhattan Project’ Intensity
2025-02-06 - Quantum Capital Group Founder and CEO Wil VanLoh says oil and gas investment, a modernized electric grid and critical minerals are needed to meet an all of the above energy strategy.
Oil Industry Veteran Beyer Appointed to Key Interior Department Post
2025-02-05 - Energy industry veteran Leslie Beyer has been appointed to assistant secretary of land and minerals management at the U.S. Interior Department, where she will oversee key agencies including the Bureau of Land Management and Bureau of Ocean Energy Management.
Enterprise Products Considering Moving On from SPOT
2025-02-05 - Permitting delays and challenges finding customers have put the future of Enterprise Product Partners’ Seaport Oil Terminal Project in doubt.
Industry Players Get Laser Focused on Emissions Reduction
2025-01-16 - Faced with progressively stringent requirements, companies are seeking methane monitoring technologies that make compliance easier.
Comments
Add new comment
This conversation is moderated according to Hart Energy community rules. Please read the rules before joining the discussion. If you’re experiencing any technical problems, please contact our customer care team.