Followed by completing required permits and making shipping arrangements
New York and Brownsville, Texas, March 14, 2024–(BUSINESS WIRE)–Texas LNG, a 4 million ton per year (“MTPA”) liquefied natural gas (“LNG”) export terminal to be built at the Port of Brownsville, and a subsidiary of Glenfern Energy Transition LLC worldwide Glenfern (“Glenfern”), a global energy transition leader delivering critical solutions to reduce carbon emissions, has been appointed by Glenfern (“Glenfern”) to move from a leading project finance bank to the execution stage of project finance. We have received sufficient expressions of interest. Glenfern also appointed Latham & Watkins as the issue's borrower's attorney and Milbank as its lender's attorney.
These financial institutions are key supporters of Glenfern, having led over $4 billion in financing for Glenfern's operations over the past decade, and the acquisition and/or acquisition of various energy transition-focused assets. We have supported construction. Additionally, these banks have been active in LNG, participating in approximately $44 billion in project finance debt in the U.S. LNG sector alone over the past 24 months.
“The Texas LNG financing consortium is comprised of world-class institutions that recognize the nature of the project and Glenfern's history of excellence in building energy transition infrastructure,” said Brendan Duvall, CEO and founder of Glenfern Energy Transition. said.
Today's news follows the recent announcement that Texas LNG has entered into a Letter of Intent (“HOA”) with EQT Corporation (“EQT”) for natural gas liquefaction services on 0.5 MTPA of LNG. Texas LNG also recently announced a partnership with Baker Hughes and He ABB to support the development of the terminal. This represents equipment selections worth more than $500 million to date for Texas LNG.
The first LNG exports from Texas LNG are expected to be shipped in 2028.
About Texas LNG
Texas LNG is a 4 MTPA LNG export facility to be built at the Port of Brownsville, Texas, and is a subsidiary of Glenfern Energy Transition LLC, a global energy transition leader. Texas LNG is led by an experienced team committed to building one of the world's greenest LNG facilities with electric motor drive and delivering the cleanest, lowest-emission LNG exports from the United States . Additional information about Texas LNG can be found on the company's website www. texaslng.com.
About Glenfern Energy Transition
Glenfarne Energy Transition, LLC is a subsidiary of Glenfarne Group, LLC, a privately held energy and infrastructure development and management company with locations in New York City and Houston, Texas, with an office in Dallas, Texas. Panama City, Panama; Santiago, Chile. Bogotá, Colombia. Barcelona, Spain; and Seoul, South Korea. Glenfern Energy Transition aims to address the global energy transition in the here and now through its three core businesses: Global LNG Solutions, Renewable Energy and Grid Stability. The company's experienced management teams, asset managers and operators develop, acquire, manage and operate energy infrastructure assets throughout North and South America. For more information, please visit www.GlenfarneEnergyTransition.com.
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