Glenfarne’s Texas LNG Project Signs Binding Offtake Agreement with Macquarie
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Glenfarne Group’s Texas LNG Project has signed a definitive 20-year sales and purchase agreement with Macquarie Energy, a global trading and financial services group, for 0.5 MTPA of LNG.
“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,” said Brendan Duval, chief executive officer and founder of Glenfarne Group.
“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,” said Michael Bennett, managing director in Macquarie’s Commodities and Global Markets business.
This agreement, along with the three other Texas LNG offtake agreements, brings Texas LNG one step closer to a final investment decision. 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.
Glenfarne Group is a privately held developer, owner, and operator of energy infrastructure assets based in New York, New York and Houston, Texas, with offices in Anchorage, Alaska; Panama City, Panama; Santiago, Chile; Bogota, Colombia; Barcelona, Spain; Tokyo, Japan; and Seoul, South Korea. Through its subsidiaries, Glenfarne currently owns and operates over 60 energy infrastructure assets through three core businesses: Global LNG Solutions, Grid Stability, and Renewables. The company’s seasoned executives, asset managers, and operators develop, acquire, manage, and operate energy infrastructure assets throughout North and South America.
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