USD 93.2918

+0.04

EUR 99.5609

+0.2

Brent 88.59

+0.15

Natural gas 2.111

-0.02

427

Chesapeake Energy, Delfin LNG and Gunvor sign long-term LNG liquefaction offtake agreement indexed to JKM

Chesapeake noted that these volumes will represent 0.5 mtpa of the previously announced up to 2 mtpa heads of agreement (HoA) with Gunvor.

Chesapeake Energy, Delfin LNG and Gunvor sign long-term LNG liquefaction offtake agreement indexed to JKM

Moscow, February 14 - Neftegaz.RU. Chesapeake Energy Corporation, Delfin LNG LLC and Gunvor Group Ltd, through Gunvor Singapore Pte Ltd, announced the entrance into a liquefied natural gas (LNG) export deal that includes executed Sales and Purchase Agreements (SPA) for long-term liquefaction offtake.

Under the SPA, Chesapeake will purchase approximately 0.5 million tonnes (mtpa) of LNG per annum from Delfin at a Henry Hub price and contract targeted start date in 2028 then deliver to Gunvor on an FOB basis with the sales price linked to the Japan Korea Marker (JKM) for a period of 20 years.
These volumes will represent 0.5 mtpa of the previously announced up to 2 mtpa HOA with Gunvor.

Nick Dell'Osso, Chesapeake President and CEO, said:

  • today's announcement cements an important step on our path to 'Be LNG Ready' and is further recognition of the depth of our portfolio and strength of our financial position;
  • we are pleased to formalize our agreement which provides diversification and access to global LNG pricing while enabling the delivery of affordable, reliable, lower carbon energy to markets in need.

Dudley Poston, Delfin CEO, said:

  • we are excited to partner with a premier company like Chesapeake;
  • we believe our unique liquefaction solution provides Chesapeake with commercial flexibility with a reduced environmental footprint, while providing a much-needed source of additional supply to key US allies and the global LNG market.

Kalpesh Patel, Co-Head of LNG Trading and a member of the Executive Committee of Gunvor, said:

  • this deal represents an important step in finalizing the 0.5 mtpa out of our total of 2.0 mtpa arrangement with Chesapeake, while expanding our existing cooperation with Delfin;
  • we continue to provide reliable and competitive logistics services to our partners by utilizing our fleet consisting of vessels procured via term charters and equity ownership. Gunvor looks forward to establishing additional agreements with the companies in the near future.


Follow us on Facebook
Advertising at neftegaz.ru

Subscribe to our newsletter

of the best materials Neftegaz.RU

* Incorrect E-Mail Address

By clicking the "Subscribe" button I accept the "Agreement on the processing of personal data"


Advertising at neftegaz.ru