Latham & Watkins Advises Texas LNG on Binding LNG Offtake Agreement With Gunvor
Texas LNG Brownsville LLC (Texas LNG), a four million tonnes per annum (MTPA) liquefied natural gas export terminal to be constructed in the Port of Brownsville, Texas, has signed a definitive 20-year Sales and Purchase Agreement with Gunvor Singapore Pte Ltd for 0.5 MTPA of LNG sales from Texas LNG on a free-on-board basis. The agreement converts a previous non-binding Heads of Agreement between the two companies. Texas LNG is a subsidiary of Glenfarne Energy Transition, LLC, and Gunvor Singapore Pte Ltd is a subsidiary of Gunvor Group.
Latham & Watkins LLP represented Texas LNG in the transaction with a Houston-based Project Development & Finance team led by Taylor López and Chris Peponis, with assistance from associates Siyao Liu and Luis Cardenas.