Texas LNG owner Glenfarne Energy Transition Signs a 20-Year Deal with EQT
While other LNG struggles, Glenfarne has moved ahead to the Biden's benefit?
The Biden-connected LNG deals, Texas & Magnolia, had major activity in the month of July. The release above coincided within 24 hours of Biden’s dropping out of the U.S. Presidential race. The Bidens, not known for their business abilities, still need a substantial income to maintain their lavish lifestyle. Hunter has no skills to sell on the open market other than his dad’s political capital which is dwindling into oblivion.
It has been one’s work to expose their connection to - and ownership of (via a SPAC-IPO deal from 2021) - these export LNG projects.
We will hypothesize below just how much the export LNG grift could benefit the Bidens in the long-term. Long after Joe has departed the political stage.
With the BIDEN LNG halt-and-review EO signed in late January 2024, it was awfully convenient that Texas LNG was then making big moves: securing a deal with EQT, and later, Gunvor Group of Singapore. Other more recent activity appears to move Texas into the operational realm by early 2025 as Glenfarne Transition has done other agreements to secure tugboats and garnered tax abatement approval from the State of Texas.
Meanwhile, other large LNG projects are faltering and failing.
On July 23rd, Debra Rubin reported that:
Zachry Holdings Inc. will exit as lead contractor for the Golden Pass liquefied natural gas export terminal near Port Arthur, Texas, under a proposed agreement with project owners ExxonMobil and Qatar Energy and co-contractors McDermott International and Chiyoda Corp.
The pact, set to be approved July 24 by a federal bankruptcy court judge in Houston, would settle months of legal charges and years of difficult relations among the parties over costs, payments and stalled work at the estimated $11-billion LNG megaproject. The issues eventually led to bankruptcy proceedings by Zachry begun in May for the corporation and 20 units, citing “significant financial strain” from ongoing cost and schedule disputes. The owner, Golden Pass LNG LLC, later filed an emergency court order to remove the contractor from the site.
The owner entity is 70% owned by Qatar Energy Inc. and 30% by ExxonMobil.
$140M Retirement Package off EXPORT LNG?
Lawyer Lobbyists Made The EQT Deal A Reality
K&L Gates (Wochner, Ettinger staff of Senator Schumer) both lobbied for Glenfarne Energy Transition (the new name assigned after Brendan Duval closed out Glenfarne’s 2021 SPAC-IPO). Ettinger left K&L Gates for a executive position at Solar Energy Industries Association. Above as well K&L Gates Karshima Page is known by Hunter via the Laptop. Paged called Hunter about Truman Center operations.
Wochner, in particular, knows EQT’s Toby Rice from giving a May 2023 presentation about Pennsylvania LNG. Toby Rice was seated 4th in from the right.
Rice is routinely a guest on CNBC.