Texas LNG Brownsville, an affiliate of Glenfarne Group, announced that it has lined up an initial group of banks to lead a planned $5.7 billion debt financing package for the construction of its liquefied natural gas export terminal at the Port of Brownsville. The company said the four million tonnes per annum facility remains on track to reach a Final Investment Decision in early 2026, a key step toward moving from development into full construction.
The proposed senior facility totals $5.7 billion and is expected to include a senior construction tranche, along with a revolving working capital and letter of credit facility. Texas LNG said the Initial Coordinating Lead Arrangers plan to underwrite $750 million each, subject to customary conditions, with syndication expected to follow after FID.
Texas LNG also said it has received indications of interest exceeding $10 billion, which it characterized as supporting a strong post-FID syndication process. The company attributed lender appetite to its engineering, procurement, and construction approach with Kiewit, as well as the structure and volume of its offtake agreements with counterparties including EQT, RWE, Gunvor, and Macquarie. The financing effort is being led by financial advisors CIBC and Mizuho.
Executives said the financing progress follows completion of the project’s offtake process and is intended to support a targeted FID in early 2026. Texas LNG said the project is being developed with electric motor drives, which it described as central to its goal of creating one of the cleanest, lowest-emitting LNG export facilities in the world. The company expects the terminal to begin delivering U.S. LNG around 2030.
Glenfarne described itself as a privately held global developer, owner, and operator of energy infrastructure assets with more than 60 assets across three business lines: Global LNG Solutions, Grid Stability, and Renewables. The company said its permitted North American LNG portfolio totals 32.8 MTPA of capacity under development in Alaska, Louisiana, and Texas.
KEY QUOTES
“Strong support from the capital markets along with the recently completed offtake process advances Texas LNG toward a positive FID in early 2026 and toward the delivery of a dependable new source of U.S. LNG supply beginning around 2030,”
Vlad Bluzer, Co-President of Texas LNG and Partner, Glenfarne Group
“Texas LNG’s advanced development status and Glenfarne’s disciplined approach to financing are attracting significant interest with leading global institutions. We are pleased to serve as financial advisor and to support Glenfarne and Texas LNG as they progress towards financial close.”
Rahul D. Shah, Managing Director, Mizuho
“Large-scale project financings demand a client first focus, disciplined execution, and deep sector expertise from experienced advisors. Texas LNG has built strong momentum across the financing workstream, and we are proud to serve as financial advisor to Texas LNG in advancing the financing process to support Glenfarne in achieving its target of an early 2026 FID.”
Chris Otte, Managing Director and Head of U.S. Midstream, CIBC
