Glenfarne creates energy transition group
New York-based Glenfarne Group said October 3 it would create Glenfarne Energy Transition LLC (GET) as a wholly-owned subsidiary to focus on high-growth emerging markets and address the global energy transition.
GET will operate through three core businesses, including global LNG solutions, renewables and grid stability. GET’s assets include Glenfarne’s two US LNG projects, Texas LNG and Magnolia LNG, together approved to export up to 12.8mn metric tons/year of LNG; 5,000 miles of natural gas pipelines 13 gas processing plants, 12 grid stability power plants and 27 renewable energy assets.
“Glenfarne Energy Transition is already a leader in accelerating the global energy transition,” CEO Brendan Duval said. “We look forward to making final investment decisions for Texas LNG later this year and Magnolia LNG in 2023, and together with our LNG import terminal developments and projected renewables and grid stability expansion, our business model is even more attractive and offers multiple growth vectors.”