Glenfarne Global Commodities Expands LNG Portfolio with 1 MTPA Heads of Agreement with BGN
Glenfarne Group, LLC (“Glenfarne”) today announced that Glenfarne Global Commodities, LLC (“GGC”), its global LNG marketing and trading business, has executed a Heads of Agreement (“HOA”) with BGN, a privately owned global energy and commodities trading group, for the long-term supply of 1 million tonnes per annum (“MTPA”) of liquefied natural gas (“LNG”).
Under the HOA, GGC and BGN intend to negotiate a definitive 20-year LNG Sale and Purchase Agreement (“SPA”) for LNG supplied from Texas LNG, Glenfarne’s LNG export project in Brownsville, Texas. Final terms remain subject to negotiation and execution of the definitive SPA.
“This agreement with BGN reflects the continued growth of Glenfarne Global Commodities as a global LNG portfolio business,” said Brendan Duval, Chief Executive Officer and Founder of Glenfarne Group. “By pairing LNG production assets with an integrated trading and marketing platform, Glenfarne is creating the flexibility to deliver secure and reliable LNG to customers where demand is growing. We are pleased to partner with BGN and look forward to developing a long-term commercial relationship as we expand our global LNG platform.”
