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Glenfarne Group has announced a $500 million investment with lead investors being investment funds and accounts managed by global investment firm, HPS Investment Partners, a part of BlackRock. The investment, which is subject to usual and customary conditions, will support the continued development and early construction works of Texas LNG Project. This project is Glenfarne’s liquefied natural gas (“LNG”) export terminal at the Port of Brownsville. This announcement marks one of the final steps required for Texas LNG before achieving Final Investment Decision (“FID”). This project alongside the Golden Pass LNG project will reinstate Texas as a leading energy hub in the US.

The investment supports the recently announced Limited Notice to Proceed (“LNTP”) with Kiewit as part of the project’s executed lump-sum turnkey contract. Furthermore, as Texas LNG continues to progress towards FID, the LNTP will include the issuance of critical purchase orders with key equipment suppliers, EPC-phase engineering activities, and geotechnical work.

“This latest investment milestone is evidence of the execution readiness of Texas LNG, as it enables a number of strategic initiatives for the project, including placement of purchase orders for certain critical equipment packages,” said Vlad Bluzer, Co-President of Texas LNG and Partner at Glenfarne.

Texas LNG is being developed as one of the lowest-emitting LNG export facilities in the world through the use of electric motor drives. The project is part of Glenfarne’sGlenfarne’s permitted North American LNG portfolio, which totals 32.8 MTPA of capacity under development across Alaska, Louisiana, and Texas.

Texas LNG Brownsville Terminal: Project Factsheet

Developer / Owner: Glenfarne Group, LLC

Location: Port of Brownsville, South Texas (Deepwater ship channel)

Site Footprint: 625 acres

Total Capacity: 4 Million Tonnes Per Annum (MTPA)

Liquefaction Trains: 2 trains

Feed Gas Sources: Permian Basin and Eagle Ford Shale (via US natural gas grid)

Primary EPC Contractor: Kiewit Energy Group Inc. (Lump-sum turnkey structure)

Estimated Debt Financing: $5.7 Billion

Expected Commissioning: 2030

Commercial Structure and Offtake Agreements

• EQT Corporation: 2.0 MTPA (tolling agreement signed July 2024).
• RWE Supply and Trading: 1.0 MTPA (sales and purchase agreement signed January 2026).
• Macquarie Group: 0.5 MTPA (signed December 2025).
• Gunvor Group: 0.5 MTPA (signed September 2025).

Recent Milestones and Timeline

• First Offtake Signed: July 2024
• Full Capacity Sold Out: January 2026
• EPC Contract Executed: March 2026
• LNTP Issued and $500M Funded: July 2026
• Projected Operations: 2030

Project Team

Engineering Construction (EPC) Partner: Kiewit Energy Group Inc.

Technology and Design Partners:

• ConocoPhillips: Selected to provide its proprietary Optimized Cascade Process liquefaction technology.
• ABB and Siemens Energy: Collaborating on the design and implementation of the highly efficient electric motor drives that replace standard gas turbines, minimizing local greenhouse gas emissions.

Financial Advisory and Underwriting Team: CIBC and Mizuho: Acting as the primary financial advisors leading the project’s capital raising and syndication workstreams.