Texas LNG and Gunvor Sign 20-Year LNG Offtake Agreement
- Texas LNG Brownsville LLC plans a 4 MTPA LNG export terminal at the Port of Brownsville, Texas.
- The 20-year agreement with Gunvor Singapore Pte Ltd covers 0.5 MTPA of LNG on a Free on Board basis.
- Texas LNG aims for a Final Investment Decision by year-end, supported by completed commercial contracts.
- Kiewit is responsible for engineering, procurement, and construction under a lump-sum turnkey structure.
Project Overview
Texas LNG Brownsville LLC is developing a liquefied natural gas (LNG) export terminal with a capacity of four million tonnes per annum (MTPA) at the Port of Brownsville, Texas. The project is a subsidiary of Glenfarne Energy Transition, LLC.
Agreement Details
A definitive 20-year Sales and Purchase Agreement has been signed with Gunvor Singapore Pte Ltd for 0.5 MTPA of LNG on a Free on Board basis. This agreement converts a previous non-binding Heads of Agreement between the two companies.
Progress Towards Final Investment Decision
Texas LNG is moving towards a targeted year-end Final Investment Decision (FID), supported by successfully completed commercial contracts. The project has also advanced in financing and completed the Federal Energy Regulatory Commission (FERC) process.
Construction and Future Plans
Kiewit is leading the engineering, procurement, and construction of the Texas LNG terminal under a lump-sum turnkey structure. The majority of Texas LNG’s offtake volume will be sold under long-term binding agreements, with ongoing conversions of Heads of Agreements with other global LNG players into definitive agreements.
Source: Gunvor