Under the SPA, Macquarie Energy will buy 0.5 mtpa of LNG for 20 years from Texas LNG, according to a statement by Glenfarne.
The agreement converts a previous non-binding heads of agreement Texas LNG signed with the unit of the trading and financial services group into a binding definitive agreement.
In September, while announcing a 20-year SPA with a unit of Geneva-based trader Gunvor, Texas LNG said it was in the process of converting HOAs with Macquarie and another “highly experienced, investment-grade global LNG player” into definitive agreements.
“One step closer” to FID
This agreement, along with the three previously announced Texas LNG offtake agreements, brings Texas LNG “one step closer” to a final investment decision, according to the statement.
The firm previously said that it expects FID by the end of this year.
Kiewit is leading the engineering, procurement, and construction of Texas LNG under a lump-sum turnkey structure.
“Our offtake agreement with Macquarie reinforces Texas LNG’s position as one of the most competitive LNG export projects in the world,” said Glenfarne CEO and founder Brendan Duval.
“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 US LNG to global markets,” he said.
In August, Glenfarne secured more time from the US FERC to build and place in service its Texas LNG export project.
Texas LNG was granted a five-year extension of time to November 22, 2029.
