HOUSTON & NEW YORK–(BUSINESS WIRE)–Glenfarne Group, LLC (“Glenfarne”) today announced that Glenfarne Global Commodities, LLC (“GGC”), its global LNG marketing and trading business, has executed a Heads of Agreement (“HOA”) with BGN, a privately owned global energy and commodities trading group, for the long-term supply of 1 million tonnes per annum (“MTPA”) of liquefied natural gas (“LNG”).
Under the HOA, GGC and BGN intend to negotiate a definitive 20-year LNG Sale and Purchase Agreement (“SPA”) for LNG supplied from Texas LNG, Glenfarne’s LNG export project in Brownsville, Texas. Final terms remain subject to negotiation and execution of the definitive SPA.
“This agreement with BGN reflects the continued growth of Glenfarne Global Commodities as a global LNG portfolio business,” said Brendan Duval, Chief Executive Officer and Founder of Glenfarne Group. “By pairing LNG production assets with an integrated trading and marketing platform, Glenfarne is creating the flexibility to deliver secure and reliable LNG to customers where demand is growing. We are pleased to partner with BGN and look forward to developing a long-term commercial relationship as we expand our global LNG platform.”
BGN is one of the world’s leading independent energy and commodities trading groups, with a heritage dating back 80 years, and operations spanning more than 120 countries. BGN is active across the entire energy value chain, trading in LNG, LPG, crude oil, refined products, biofuels, SAF and other energy commodities. The HOA provides a foundation for a long-term commercial relationship between GGC and BGN as both companies work to meet growing demand for secure, flexible, and diversified LNG supply.
“Expanding our LNG business is an important part of BGN’s global growth strategy and we’re pleased to have signed this Heads of Agreement with Glenfarne Global Commodities,” said Wael Amer, Group Chief Operating Officer for BGN. “Glenfarne’s integrated LNG platform and growing production portfolio make it a compelling long-term partner who will help us achieve our goals, and meet our customers’ need for reliable, flexible LNG supply.”
GGC was formed to expand Glenfarne’s global LNG capabilities through marketing, trading, and portfolio optimization. With Texas LNG advancing toward final investment decision and Alaska LNG expanding Glenfarne’s North American platform, GGC is positioned to serve customers across Atlantic and Pacific Basin markets with long-term, reliable LNG solutions.
About Glenfarne Group
Glenfarne Group is a privately held global developer, owner, and operator of energy infrastructure assets. Through its subsidiaries, Glenfarne owns and operates 60 energy assets across three core businesses: Global LNG Solutions, Grid Stability, and Renewables. Glenfarne’s permitted North American LNG portfolio totals 32.8 MTPA of capacity under development in Alaska, Louisiana, and Texas. For more information, please visit www.glenfarne.com.
About BGN
BGN is the 6th largest independent energy and commodities trading group and a leader in transition fuels and cleaner energies. With over 8 decades experience in the energy sector, we trade, distribute, store and finance energy solutions globally, handling approximately 65 million metric tons of commodities annually. BGN is present throughout the energy value chain, having established strong partnerships with refineries, producers, state oil companies and leading industrial and petro-chemical companies.
We are purposefully expanding into sustainable solutions including renewables, Sustainable Aviation Fuel (SAF), LNG, ammonia, and critical minerals and metals, essential for the energy transition. Operating from our regional trading hubs in Geneva, Dubai, Singapore and Houston, and around 20 locations worldwide, we are a trusted partner to customers in over 120 countries. Learn more at bgn-int.com.
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