Texas LNG lands $500 million investment ahead of FID
In Texas, Glenfarne Group’s Texas LNG secured a $500 million investment led by HPS Investment Partners, part of BlackRock, to advance its planned LNG export terminal at the Port of Brownsville.
Glenfarne said the investment is one of the final steps required before a final investment decision. In February, Texas LNG announced it had assembled an initial group of banks to lead a $5.7 billion debt financing package for the project.
HPS’s $500 million investment will support the limited notice to proceed recently issued to Kiewit, including orders for critical equipment, engineering and geotechnical work. Kiewit holds the project’s lump-sum turnkey construction contract.
The 4 million-tonne-per-year facility is being delivered by a joint venture between Technip Energies USA and Samsung Engineering. Texas LNG plans to use renewable power and electric motor drives to reduce operating emissions to less than half of the typical U.S. LNG export project, according to the company.
Category: Sustainable Marine Fuels
