King & Spalding Represented EQT in a Liquefaction Tolling Services Agreement with Texas LNG

On July 22, 2024, our client, EQT Corporation (“EQT”), as customer, entered into a 20-year liquefaction tolling services agreement (“LTSA”) with Texas LNG Brownsville LLC (“Texas LNG”), a subsidiary of Glenfarne Energy Transition, LLC, as operator, for 2 MTPA of liquefied natural gas (“LNG”). The LTSA sets forth the definitive terms relating to two heads of agreement previously entered into by EQT and Texas LNG.

Texas LNG intends to develop, construct, own and operate a 4 MTPA LNG liquefaction facility and export terminal located in the Port of Brownsville in the State of Texas. Under the LTSA, EQT will deliver gas to Texas LNG, and Texas LNG will transport such gas to the to-be-constructed LNG production facility, liquefy the gas, store the resulting LNG, and load EQT’s resulting LNG onto LNG vessels.

The King & Spalding team advising EQT included David Lang (HOU), Chris Terhune (WDC/HOU), Erin Mendez (HOU) and Will Carroll (HOU).