US energy firm Glenfarne Group is moving toward a Q2 final investment decision (FID) as it expands its global trading arm to capture rising demand for liquefied natural gas.
GGC will offtake 1.5 million tonnes per annum (mtpa) of LNG from Texas LNG, giving the platform additional capacity to meet growing global demand for natural gas.
The increase in GGC’s capacity follows natural gas producer EQT reducing its long-term Texas LNG offtake to 0.5 mtpa.
Brendan Duval, CEO and founder of Glenfarne Group, said that the expansion better positions the company to meet changes in energy demands.
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