Milbank LLP advised global investment firm HPS Investment Partners, a part of BlackRock, in connection with a $500 million investment led by investment funds and accounts managed by HPS to support the continued development and early construction works of Texas LNG, Glenfarne Group’s liquified natural gas export terminal at the Port of Brownsville.
“We are thrilled to have advised HPS Investment Partners on this strategic investment, which is critical to advancing one of the significant LNG export facilities under development globally,” said Global Project, Energy and Infrastructure Finance partner Sean O’Neill.
Texas LNG is being developed as one of the lowest-emitting LNG export facilities in the world through the use of electric motor drives. The project is part of Glenfarne’s permitted North American LNG portfolio, which totals 32.8 MTPA of capacity under development across Alaska, Louisiana and Texas.
“This transaction underscores the continued strength of the US LNG market and the critical role of private capital in advancing strategically important energy infrastructure,” said Global Project, Energy and Infrastructure Finance Group chair Dan Bartfeld.
The Milbank team was led by Mr. O’Neill and Global Project, Energy and Infrastructure Finance partners Jeffrey Zwerner and Dan Bartfeld, along with special counsel Christopher Terhune and Jeffrey Susskind, associates Min Hwang and Anne Marie Miller and law clerk Tia Liu.
