Glenfarne Group has obtained a $500 million investment from funds and accounts managed by global investment firm HPS Investment Partners, a part of BlackRock, for its Texas LNG project.
Texas LNG is a liquefied natural gas (LNG) export facility to be constructed at the Port of Brownsville, Texas, and a subsidiary of Glenfarne Group. The investment will support the continued development and early construction works of the export terminal, following a recently announced limited notice to proceed (LNTP) with Kiewit as part of the project’s executed lump-sum turnkey contract.
Glenfarne said the investment represents one of the final steps required for Texas LNG to achieve the final investment decision. As Texas LNG continues to progress toward that goal, the LNTP will include issuing critical purchase orders with key equipment suppliers, EPC-phase engineering activities and geotechnical work.
“This latest investment milestone is evidence of the execution readine
