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  • Chesapeake Energy Corporation and Vitol sign long-term LNG supply heads of agreement indexed to Japan Korea Marker
    édité le 02/11/2023 - Plus de news de "Expand Energy" - Voir la fiche entreprise de "Expand Energy"


Chesapeake Energy Corporation and Vitol sign long-term LNG supply heads of agreement indexed to Japan Korea Marker
Chesapeake Energy Corporation and Vitol Inc. (Vitol) announced the entrance into a Heads of Agreement ("HOA") with Chesapeake Energy Marketing L.L.C. ("Chesapeake") a subsidiary of Chesapeake Energy Corporation.

Under the HOA, Chesapeake will supply up to 1 million tonnes of LNG per annum to Vitol with the purchase price indexed to Japan Korea Marker ("JKM") for a period of 15 years. Following the execution of the HOA, Chesapeake and Vitol will jointly select the most optimal liquefaction facility in the United States to liquify the gas produced by Chesapeake for delivery to Vitol. The HOA has a targeted start date in 2028.

Nick Dell'Osso, Chesapeake President and Chief Executive Officer, said, "We are pleased to expand our relationship with Vitol to deliver independently certified reliable, affordable, lower carbon energy to global markets in need. Today's announcement marks another important step on our path to 'Be LNG Ready', and is further recognition of the premium rock, returns, and runway of our advantaged portfolio and the strength of our financial position. We look forward to entering into additional agreements as export capacity continues to come online."

Ben Marshall, Head of Vitol Americas, said: "We are excited to build upon our existing relationship with Chesapeake. The global energy landscape has changed significantly in the last two years, which has highlighted the importance of U.S. natural gas production and liquefaction in satisfying the world's energy needs. Global LNG demand is experiencing tremendous growth and Vitol continues to strengthen its position to safely and reliably deliver cost effective, flexible solutions to our customers around the world."

About Chesapeake

Headquartered in Oklahoma City, Chesapeake Energy Corporation (NASDAQ:CHK) is powered by dedicated and innovative employees who are focused on discovering and responsibly developing leading positions in top U.S. oil and gas plays. With a goal to achieve net zero GHG emissions (Scope 1 and 2) by 2035, Chesapeake is committed to safely answering the call for affordable, reliable, lower carbon energy.

About Vitol

Vitol is a leader in the energy sector with a presence across the spectrum: from oil through to power, renewables and carbon. Chartering circa 6,000 sea voyages every year, it trades 7.4 million barrels per day of crude oil and products, 13.7 million mt LNG per annum and has contracted sales of 1,500 TWh of natural gas each year.

Vitol's clients include national oil companies, multinationals, leading industrial companies and utilities. Founded in Rotterdam in 1966, today Vitol serves clients from some 40 offices worldwide and is invested in energy assets globally including: gas to power production, thermal and renewable power plants with circa 1.2 GW of capacity, more than 17 million m3 of storage globally, 500,000 barrels per day of refining capacity, over 7,000 service stations and a growing portfolio of transitional and renewable energy assets. Revenues in 2022 were $505 billion.


Origine : Communiqué Expand Energy

Voir la fiche entreprise de "Expand Energy"



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