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Glenfarne Secures $500 Million Investment for Texas LNG Project

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Glenfarne secured a $500 million investment led by HPS Investment Partners, a global investment firm and part of BlackRock, to support continued development and early construction of its Texas LNG export facility at the Port of Brownsville, Glenfarne said in a statement on Monday.

The investment, which remains subject to customary closing conditions, represents one of the final key milestones for Texas LNG ahead of reaching the final investment decision, the company said.

The funding will support the project's recently announced Limited Notice to Proceed issued to Kiewit, Texas LNG's engineering, procurement, and construction contractor, under the project's executed lump-sum turnkey EPC agreement.

The LNTP phase includes the issuance of purchase orders for critical equipment packages, advancement of EPC-phase engineering, and completion of geotechnical work.

Texas LNG is being developed as one of the world's lowest-emitting liquefied natural gas export facilities, incorporating electric motor drives to reduce emissions intensity.

The project is part of Glenfarne's permitted North American LNG portfolio, which totals 32.8 million metric tons per annum of export capacity under development across Alaska

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