en.Wedoany.com Reported - Glenfarne Group announced it has secured a $500 million investment to advance the Texas LNG export terminal project at the Port of Brownsville, Texas, which is considered a key step before the final investment decision. The investment comes primarily from investment funds and accounts managed by HPS Investment Partners, part of global investment firm BlackRock, subject to customary and standard conditions.

These funds will be used for the continued development and early construction of the export terminal at the Port of Brownsville. The recently announced Limited Notice to Proceed (LNTP) has received investment support, with Kiewit participating in construction as part of a fixed-price turnkey contract for project execution. Due to the use of electric motor drives, the facility is expected to be one of the lowest-emission LNG export facilities globally.

As the Texas LNG project progresses toward a final investment decision, key activities covered by the Limited Notice to Proceed (LNTP) include placing major purchase orders with critical equipment suppliers, EPC phase engineering design, and geotechnical work. Vlad Bluzer, Co-President of Texas LNG and Partner at Glenfarne, stated that this investment milestone demonstrates the project's execution readiness, as it initiates several strategic initiatives, including placing purchase orders for certain critical equipment packages.

The project is part of Glenfarne Group's permitted North American LNG portfolio, which has a total development capacity of 32.8 million tonnes per year across Alaska, Louisiana, and Texas.