US energy firm Glenfarne said it is expanding its global LNG commodities platform, Glenfarne Global Commodities, to include 1.5 mtpa of LNG offtake from Texas LNG's planned 4 mtpa export terminal in the port of Brownsville as the project nears a final investment decision. In addition to the Glenfarne-operated Texas LNG project, GCC will offtake Alaska LNG volumes determined when customer allocations are finalized in the coming weeks, according to Glenfarne.
Glenfarne, which became the majority owner of the Alaska LNG project last year, is developing Alaska LNG in two financially independent phases to accelerate project execution.
Phase One consists of a 739-mile (1,287 km) pipeline, while Phase Two of the project will add the LNG liquefaction terminal and related infrastructure to export 20 mtpa of LNG.
Glenfarne said in a statement that this provides GGC and its LNG projects with commercial flexibility and optionality that benefit from an LNG portfolio serving both the Atlantic and Pacific basins.
“The addition of these volumes to GGC’s marketing portfolio reflects Glenfarne’s conviction that the global LNG market will continue to be buoyed by compelling long-term fundamentals, supported by the growth of LNG as a vital fuel to power generation, industries, and data centers, and driven by ongoing geopolitical tensions,” Glenfarne said.
Glenfarne noted that GGC was formed to further develop its global LNG capabilities, including LNG trading and import into markets Glenfarne serves directly or through subsidiaries.
One of Glenfarne’s subsidiaries is one of Colombia’s largest importers of LNG, having imported more than 50 cargoes over the last two years while providing a robust commercial offering to domestic natural gas users, the company said.
EQT amendment
GGC has entered into a long-term offtake arrangement with Texas LNG for 1.5 mtpa of offtake capacity to serve Atlantic markets.
In addition, Glenfarne anticipates adding offtake from Alaska LNG to GGC’s supply portfolio when Alaska LNG becomes operational in 2031.
According to Glenfarne, GGC’s offtake obligations under the long-term arrangement with Texas LNG will be underpinned by investment-grade fundamentals supporting project finance underwriting.
Glenfarne said the increase in GGC’s capacity was accommodated through an agreement with EQT to amend its long-term offtake from Texas LNG to 0.5 mtpa.
In 2024, US natural gas producer EQT entered into a binding agreement for liquefaction services from Texas LNG’s planned facility in Brownsville to produce 2 mtpa of LNG under a 20-year tolling agreement.
More than $10 billion in underwriting capacity
Glefrane said that Texas LNG continues to “advance toward a targeted second-quarter final investment decision.”
The company has received letters from an initial bank group with more than $10 billion in underwriting capacity, nearly double the project’s requirements,” it said.
“This support reinforces the high-quality project financing aspects of Texas LNG in the bank syndication market. Project financing is being led by financial advisors CIBC and Mizuho,” Glenfarne said.
Glenfarne also noted that it has executed a lump-sum turnkey engineering, procurement, and construction agreement with Kiewit for Texas LNG and will use Kiewit Offshore Services in Ingleside, Texas, to fabricate the project’s liquefication, pretreatment, and pipe rack modules. (April 2, 2026, Source: https://lngprime.com/americas/glenfarnes-commodities-unit-to-offtake-texas-and-alaska-lng-volumes/182106/)
UNITED STATES - LNG - SUPPLIES - IMPORTS - EXPORTS