Canada’s Tourmaline Inks LNG Deals with Trafigura
01.16.2024 By Tank Terminals - NEWS

January 16, 2024 [LNG Prime]- Canada’s largest natural gas producer Tourmaline said it had signed two liquefied natural gas (LNG) agreements with commodity trader Trafigura.

 

According to a statement issued by Tourmaline on Monday, the firm has increased its exposure to JKM by entering into a netback agreement with Trafigura Pte Limited based on 62,500 mmbtu/d of LNG (or about 0.5 mtpa) for a seven-year term starting January 2027, with the potential for extension to December 2039.

In addition, Tourmaline has also expanded its international exposure to include a physical netback agreement with Trafigura Canada which will receive Dutch TTF index pricing.

Starting in March 2024, Tourmaline will deliver 50,000 mmbtu/d of natural gas at AB-NIT and receive a Dutch TTF index price (less associated deductions) until December 2026, the firm said.

Tourmaline did not provide any additional information.

Back in 2021, Tourmaline entered into a deal to supply gas to Cheniere’s Corpus Christi LNG export plant in Texas.

The company is also a partner in Rockies LNG, a partnership of Canadian natural gas producers working together to advance the Ksi Lisims LNG project.

Tourmaline exited 2023 with average daily production in excess of 600,000 boepd including over
150,000 bbls/d of average liquids production and has continued at these production levels in January, it said.

On the other hand, Trafigura’s LNG volumes dropped 13.8 percent in the fiscal year ending September 30 while the company’s profit rose.

LNG volumes declined to 11.2 million tonnes compared to 13 million tonnes during the same period last year, which also declined from the previous year.

Trafigura buys LNG from various sources, including under a long-term deal with US LNG exporting giant Cheniere.

 

Pro Trial: Access 12,600 Tank Terminal and Production Facilities

12,600 tank storage and production facilities as per the date of this article. Click on the button and register to get instant access to actionable tank storage industry data

FERC to Decide on Venture Global Building Permit Extension by April
02.23.2024 - NEWS
February 23, 2024 [Oil Price]- The Federal Energy Regulatory Commission will try to be quick in d... Read More
Shell's LNG Trading Makes $2.4 Billion in Final 2023 Quarter, Sources Say
02.23.2024 - NEWS
February 23, 2024 [Reuters]- Nearly a third of Shell’s (SHEL.L), opens new tab profit in th... Read More
Europe, Africa Oil Markets Tighten, Lending Support to Futures
02.23.2024 - NEWS
February 23, 2024 [Reuters]- Red Sea shipping delays and OPEC+ supply cuts are tightening physica... Read More
Concluded Joint Development Agreement for Production of Sustainable Aviation Fuel (SAF) from Woody Biomass in the US
02.23.2024 - NEWS
February 23, 2024 [Sumitomo Corporation]- Sumitomo Corporation, through Sumitomo Corporation of A... Read More