Gunvor Signs 20-Year Supply Contract With Texas LNG
(Bloomberg) -- Gunvor Group signed a 20-year deal to buy liquefied natural gas from Texas LNG Brownsville LLC, according to a statement from the US developer.
The sales and purchase agreement is for delivery of 0.5 million tons of LNG a year from Texas LNG, to be supplied on a free-on-board basis.
The deal, which converts a previous non-binding accord between the two companies, progresses Texas LNG toward a targeted year-end final investment decision, Brendan Duval, chief executive officer and founder of Glenfarne Energy Transition LLC, the parent of Texas LNG, said in the statement.
Texas LNG plans to build a four-million-ton a year facility in the Port of Brownsville, Texas. Gunvor is a foundation customer of Texas LNG. The majority of the project’s offtake volume will be sold under long-term binding agreements, the developer said.
Gunvor has recently also signed another 20-year LNG supply deal.
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