Texas LNG Lines Up $5.7 Billion Bank Group Ahead of Early 2026 FID
Texas LNG has assembled an initial bank group to support a $5.7 billion debt financing package, marking a key step toward a final investment decision for the Brownsville LNG export project.
(P&GJ) — Texas LNG Brownsville LLC has assembled an initial group of banks to lead a $5.7 billion debt financing package for construction of its liquefied natural gas export terminal at the Port of Brownsville, Texas, according to a company statement.
The four-million-tonnes-per-annum LNG project is being developed by an affiliate of Glenfarne Group and remains on track for a final investment decision in early 2026, the company said.
Under the proposed structure, Initial Coordinating Lead Arrangers would underwrite $750 million each, forming a total senior facility of $5.7 billion. The package is expected to include a senior construction facility as well as a revolving working capital and letter-of-credit facility. Texas LNG said it has received more than $10 billion in lender interest, setting the stage for a broader syndication process following FID.
The company said financing interest has been supported by its EPC approach with Kiewit and long-term offtake agreements with EQT, RWE, Gunvor and Macquarie. Financial advisory services are being provided by CIBC and Mizuho.
“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,” said 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,” said Rahul D. Shah, Managing Director, Mizuho. “We are pleased to serve as financial advisor and to support Glenfarne and Texas LNG as they progress towards financial close.”
“Large-scale project financings demand a client-first focus, disciplined execution, and deep sector expertise from experienced advisors,” said Chris Otte, Managing Director and Head of U.S. Midstream, CIBC. “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.”