TEXAS LNG, SUBSIDIARY OF GLENFARNE GROUP AND ALDER MIDSTREAM, ANNOUNCES LONG-TERM LEASE WITH THE PORT OF BROWNSVILLE
Houston, Texas, Dec. 17, 2020 (GLOBE NEWSWIRE) — Texas LNG Brownsville LLC (“Texas LNG”) has entered into a long-term lease agreement with the Port of Brownsville, successfully securing the Texas LNG export project site for up to 50 years. The lease agreement is an important milestone bringing the FERC permitted project closer to a final investment decision (“FID”), while also confirming to liquefied natural gas (“LNG”) buyers that Texas LNG is well-positioned to support the continued growth of the LNG market.
The lease agreement covers a 625-acre site located within the Port of Brownsville. Texas LNG plans to construct and operate a 4 million tonnes per annum (“mtpa”) LNG export terminal on a deepwater frontage site previously secured under an exclusive option to the Lease agreement.