HOUSTON, Texas (October 14, 2025) – Texas-based Galveston LNG Bunker Port, LLC (GLBP) announced today that it has appointed MUFG Bank, Ltd. and MUFG Securities Americas Inc. (together “MUFG”) to act as financial advisors in conjunction with the anticipated financing for the construction of its liquified natural gas (LNG) marine bunker project.
“We are pleased to be working with GLBP,” said Chip Lewis, Managing Director at MUFG Americas “GLBP has a significant advantage in the small-scale LNG bunker market given its location in one of the most strategic U.S. ports. We look forward to a successful outcome for the project.”
MUFG (Mitsubishi UFJ Financial Group) is the world’s 10th largest financial group, with a global network of over 2,000 locations in over 40 countries. As the leading financier of energy infrastructure assets in North America, MUFG is consistently chosen to lead large and complex financing transactions. MUFG has unparalleled experience advising on and executing the successful financing of innovative and transformational energy projects globally.
Cheyne Hermes, Head of Finance for GLBP, stated: “We are very pleased to add MUFG’s expertise and best-in-class project finance platform to the project team. As the top arranger of bank project financings in the Americas for 15 years running, MUFG will assist GLBP in assembling an optimal financing package for the project as we continue advancing towards a final investment decision.”
GLBP Board Member and President of Seapath Group, Josh Lubarsky, further added: “Engaging a financial advisor – particularly one as experienced with complex LNG transactions as MUFG – is another major milestone for the project. After completing a thorough review process, we are certain that MUFG is the most qualified institution to assist GLBP.”
Located on the Texas City Ship Channel in the Texas City industrial area, GLBP will supply LNG by fuel barge to the rapidly expanding fleet of LNG-fueled vessels in the greater Houston-Galveston region. It is optimally located to serve major ports, including Port Houston, the Port of Galveston and the Port of Texas City. The project is a joint venture by Pilot LNG and Seapath Group and is projected to come online in 2028 as the US Gulf Coast’s first dedicated LNG liquefaction facility for marine bunkering.
This follows the project’s recent major announcements regarding the receipt of all necessary state and federal permits for construction of the facility and selection of NV5 LNG Engineering as the project’s EPC Contractor.
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About MUFG
Mitsubishi UFJ Financial Group, Inc. (MUFG) is one of the world’s leading financial groups. Headquartered in Tokyo and with over 360 years of history, MUFG has a global network with approximately 2,000 locations in more than 40 countries. The Group has about 140,000 employees and offers services including commercial banking, trust banking, securities, credit cards, consumer finance, asset management, and leasing. The Group aims to be “the world’s most trusted financial group” through close collaboration among our operating companies and flexibly respond to all the financial needs of our customers, serving society, and fostering shared and sustainable growth for a better world. MUFG’s shares trade on the Tokyo, Nagoya, and New York stock exchanges. MUFG’s Americas operations, including its offices in the U.S., Latin America, and Canada, are primarily organized under MUFG Bank, Ltd. and subsidiaries, and are focused on Global Corporate and Investment Banking, Japanese Corporate Banking, and Global Markets. MUFG is one of the largest internationally headquartered financial institutions in the Americas.
For more information visit: www.mufgamericas.com
Media inquiries: media@us.mufg.jp
About Galveston LNG Bunker Port
Galveston LNG Bunker Port (GLBP) is under development on Shoal Point in Texas City, Galveston County, Texas, to serve the greater Houston-Galveston port complex. It is located on Shoal Point in Galveston County, Texas, to serve the greater Houston-Galveston port complex. GLBP will provide critical infrastructure for the supply of clean-burning LNG to meet the growing demand for LNG as a marine fuel. Operations of GLBP are projected to commence in 2028. The terminal is being developed in two phases with a total capacity of up to 720,000 gallons per day accompanied by two 3-million-gallon storage tanks. GLBP is ideally situated to supply the growing Galveston Bay port complex fuel and bunker markets. This includes LNG marine fuel deliveries directly to customers in the port complex and surrounding areas, such as the Galveston Offshore Lightering Area.
For more information visit: www.GalvestonLNG.com
Media inquiries: Info@GalvestonLNG.com