Chesapeake, Delfin and Gunvor Sign Long-Term LNG Liquefaction Deal
02.14.2024 By Tank Terminals - NEWS

February 14, 2024 [Gas World]- Chesapeake Energy, Delfin LNG, and Gunvor Group, through its subsidiary Gunvor Singapore, have announced a deal for liquefied natural gas (LNG) export deal.

 

The deal also includes a sales and purchase agreement through which Chesapeake will buy about half a million tonnes of liquefied natural gas (LNG) each year from Delfin. The price will be based on the Henry Hub index, and the plan is to start in 2028.

Chesapeake will then sell the LNG to Gunvor, with the price tied to the Japan Korea Marker (JKM) for 20 years. The half a million tonnes per year is part of a larger deal where up to two million tonnes per year was agreed with Gunvor.

Nick Dell’Osso, President and CEO of Chesapeake, said the deal “cements an important step” on the company’s path to “be LNG ready” and further recognises the depth of its portfolio and financial position.

He added, “We are pleased to formalise 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.”

 

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