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
EQT Declares Quarterly Dividend
2024-04-18 - EQT Corp.’s dividend is payable June 1 to shareholders of record by May 8.
Matador Resources Announces Quarterly Cash Dividend
2024-04-18 - Matador Resources’ dividend is payable on June 7 to shareholders of record by May 17.
BP Restructures, Reduces Executive Team to 10
2024-04-18 - BP said the organizational changes will reduce duplication and reporting line complexity.
Equitrans Midstream Announces Quarterly Dividends
2024-04-23 - Equitrans' dividends will be paid on May 15 to all applicable ETRN shareholders of record at the close of business on May 7.
PrairieSky Adds $6.4MM in Mannville Royalty Interests, Reduces Debt
2024-04-23 - PrairieSky Royalty said the acquisition was funded with excess earnings from the CA$83 million (US$60.75 million) generated from operations.