Macquarie Vitality LLC, a part of buying and selling and monetary companies multinational Macquarie Group Ltd, has signed a definitive settlement to purchase 0.5 million metric tons every year (MMtpa) of liquefied pure fuel (LNG) for 20 years from Glenfarne Group LLC’s Texas LNG challenge.
“This settlement, together with the three beforehand introduced Texas LNG offtake agreements, brings Texas LNG one step nearer to a remaining funding resolution”, mentioned a joint assertion Wednesday.
Earlier this 12 months Glenfarne secured a 20-year contract to provide 0.5 MMtpa of LNG to Gunvor Group Ltd from Texas LNG.
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Provide below the settlement, which transformed a heads-of-agreement doc introduced final 12 months, will probably be delivered to the commodities dealer’s Singapore subsidiary on a free-on-board foundation, mentioned a joint assertion September 10.
Final 12 months Glenfarne signed with EQT Corp a 20-year tolling settlement for pure fuel liquefaction companies for 2 MMtpa of LNG from Texas LNG.
“The settlement solidifies the 2 heads of settlement signed by Texas LNG and EQT” earlier in 2024, Glenfarne mentioned in a press launch July 23, 2024.
In August the Federal Vitality Regulatory Fee (FERC) upheld its approval for Texas LNG, performing on a second court docket remand. FERC additionally granted Glenfarne’s request to increase the deadline for the beginning of operations from November 2024 to November 2029.
In July FERC issued a remaining supplemental environmental influence assertion for the challenge in response to the second remand by the Courtroom of Appeals for the District of Columbia Circuit in August 2024. Within the August 2024 order, the court docket vacated FERC’s authorization issued April 2023 as a result of the Fee had not issued a supplemental environmental influence assertion.
In March 2025 the court docket modified its August 2024 order and issued a remand with out vacatur.
“The Fee affirms its earlier determinations that the Texas LNG Challenge isn’t inconsistent with the general public curiosity”, said the reauthorization order, printed on FERC’s web site. “All directives within the Fee’s prior orders stay in impact”.
Texas LNG holds a Division of Vitality (DOE) approval to export as much as 204.4 billion cubic toes a 12 months of pure fuel equal to each FTA and non-FTA nations on a non-additive foundation. The challenge obtained DOE authorization in September 2015 for the portion for nations with a free commerce settlement (FTA) with the U.S. and February 2020 for the non-FTA portion.
The challenge will encompass a brand new LNG terminal on the north aspect of the Brownsville Ship Channel, 2.5 miles southwest of the City of Port Isabel and 19 miles northeast of the Metropolis of Brownsville, in accordance with the challenge proposal to FERC. It’s designed to have two liquefaction trains. Feed fuel can be delivered through a deliberate third-party pipeline.
Kiewit gained the engineering, procurement and building contract final 12 months.
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