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
Exclusive: Silixa’s Distributed Fiber Optics Solutions for E&Ps
2024-03-19 - Todd Chuckry, business development manager for Silixa, highlights the company's DScover and Carina platforms to help oil and gas operators fully understand their fiber optics treatments from start to finish in this Hart Energy Exclusive.
CERAWeek: AI, Energy Industry Meet at Scary but Exciting Crossroads
2024-03-19 - From optimizing assets to enabling interoperability, digital technology works best through collaboration.
Cyber-informed Engineering Can Fortify OT Security
2024-03-12 - Ransomware is still a top threat in cybersecurity even as hacktivist attacks trend up, and the oil and gas sector must address both to maintain operational security.
Forum Energy Signs MOU to Develop Electric ROV Thrusters
2024-03-13 - The electric thrusters for ROV systems will undergo extensive tests by Forum Energy Technologies and SAFEEN Survey & Subsea Services.
Axis Energy Deploys Fully Electric Well Service Rig
2024-03-13 - Axis Energy Services’ EPIC RIG has the ability to run on grid power for reduced emissions and increased fuel flexibility.