Glenfarne, Gunvor sign 20-year LNG supply deal as project nears investment decision

Core Insights - Glenfarne's unit has signed a 20-year agreement to sell liquefied natural gas (LNG) to Gunvor, advancing the Brownsville export project in Texas towards a final investment decision [1][2] - The deal involves the sale of 0.5 million tonnes per annum of LNG on a free-on-board basis, replacing a previous preliminary agreement [1] - The global demand for LNG has increased significantly since the onset of the Russia-Ukraine conflict in 2022, prompting long-term supply agreements with U.S. exporters [2] Company Developments - Glenfarne Energy Transition's Texas LNG is spearheading the Brownsville project, with Kiewit contracted for engineering, procurement, and construction [2] - The U.S. has become the leading LNG supplier globally in 2023, with Texas and Louisiana being key areas for new capacity expansion [2]