(Bloomberg) — German utility RWE AG has been identified as the buyer of US liquefied natural gas that will come from an LNG facility being planned for south Texas, according to people familiar with the matter.
Most Read from Bloomberg
Developer Glenfarne Group LLC said on Sept. 11 it struck a preliminary deal to supply chilled fuel from its yet-to-be-built Texas LNG project to a company it didn’t disclose. Glenfarne hasn’t made a final investment decision on its Brownsville project, though it aims to have the facility operating by 2028.
Glenfarne and Texas LNG declined to comment on whether RWE is the buyer. When asked about the agreement, an RWE spokeswoman said in an email Monday that the company doesn’t comment on third-party projects.
RWE has been pushing to expand LNG exports into Germany more than two years after Russia’s invasion of Ukraine and Europe’s pivot from reliance on Russian pipeline gas. The utility has already secured long-term supply from Sempra’s Port Arthur project in Texas, which is currently under construction. RWE also has a seven-year deal starting in 2025 with Australian LNG producer Woodside Energy Group Ltd.
Most Read from Bloomberg Businessweek
©2024 Bloomberg L.P.
Source Agencies
