Macquarie Signs 20-Year LNG Offtake Deal with Glenfarne’s Texas LNG Project

Glenfarne’s Texas LNG project has signed a 20-year, 0.5 MMtpy offtake agreement with Macquarie Energy, advancing the Brownsville export facility toward a final investment decision. The deal marks the fourth long-term LNG contract secured for the project.

HOUSTON (P&GJ) — Glenfarne Group’s Texas LNG export project has signed a binding 20-year Sales and Purchase Agreement with Macquarie Energy LLC, a subsidiary of Macquarie Group Limited, for 0.5 million tonnes per year (MMtpy) of LNG.

The deal converts a previous non-binding Heads of Agreement into a definitive contract, reinforcing the project’s progress toward a final investment decision (FID).

“Our offtake agreement with Macquarie reinforces Texas LNG’s position as one of the most competitive LNG export projects in the world,” said Brendan Duval, CEO and founder of Glenfarne Group. “Macquarie is a world-class partner, and their participation in our offtake portfolio demonstrates strong confidence in Glenfarne’s ability to deliver a reliable, low-emissions source of U.S. LNG to global markets.”

Michael Bennett, managing director in Macquarie’s Commodities and Global Markets business, said the agreement underscores Macquarie’s commitment to meeting global energy demand. “LNG is a critical component of the global energy mix, providing a reliable and flexible fuel source, and we are proud to work with Glenfarne and Texas LNG to help provide energy supply to regions where demand is rapidly increasing,” Bennett said.

With this latest deal, Glenfarne has secured four offtake agreements for its Texas LNG project, bringing the facility closer to FID. The 4-MMtpy “Green by Design” plant is being developed at the Port of Brownsville, Texas, and will utilize electric-driven compressors to reduce carbon emissions.

Kiewit has been contracted to lead engineering, procurement, and construction (EPC) under a lump-sum turnkey agreement, following completion of final front-end engineering design.