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  • Tellurian and Vitol sign 10-year LNG agreement for 3 mtpa
    édité le 03/06/2021 - Plus de news de "Tellurian" - Voir la fiche entreprise de "Tellurian"


Tellurian and Vitol sign 10-year LNG agreement for 3 mtpa
Tellurian Inc. (Tellurian) announced it has finalized a liquefied natural gas (LNG) sales and purchase agreement (SPA) with Vitol Inc. (Vitol). The SPA is for three million tonnes per annum (mtpa) on a free on board (FOB) basis at Driftwood LNG for a ten-year period, indexed to a combination of two indices: the Japan Korea Marker (JKM) and the Dutch Title Transfer Facility (TTF), each netted back for transportation charges. At today’s prices, the agreement is valued at approximately $12 billion in revenue over ten years.

President and CEO Octávio Simões said, “Tellurian continues to execute on our plan to market Driftwood LNG volumes on indices that our customers want. Vitol expressed interest in the development of Driftwood early on, and it is fulfilling to finalize this agreement with the world’s largest independent trader of energy. As the world electrifies and our population grows, the demand for reliable, low-cost energy will continue to increase. LNG provides a stable source of fuel at an attractive price, and Tellurian’s integrated model is positioned perfectly to offer volumes on JKM, TTF or blended price basis.”

Executive Vice President LNG Marketing & Trading Tarek Souki added, “Tellurian has made exceptional progress on our intended first phase capacity sales by securing this second SPA with another respected global energy trading business. The two recent agreements represent an aggregate of $24 billion in estimated revenue; we will continue to be deliberate and selective in choosing our additional customers.”

Pablo Galante Escobar, Global Head of LNG and European Gas & Power at Vitol said: “Vitol is excited to conclude this agreement with Tellurian. Our long-term commitment and investment grade rating will help Tellurian as they continue their path to financial close.”

Ben Marshall, CEO of Vitol Inc. added: “Vitol’s business continues to grow and evolve in the Americas and around the world. This agreement will make Vitol one of North America’s largest exporters of natural gas, providing our customers with cost effective and cleaner fuel solutions.”

About Tellurian Inc.

Tellurian (NASDAQ: TELL) intends to create value for shareholders by building a low-cost, global natural gas business, profitably delivering natural gas to customers worldwide. Tellurian is developing a portfolio of natural gas production, LNG marketing and trading, and infrastructure that includes an ~ 27.6 mtpa LNG export facility and an associated pipeline. Tellurian is based in Houston, Texas, and its common stock is listed on the Nasdaq Capital Market under the symbol “TELL”.

About Vitol Group

Vitol is an energy and commodities company; its primary business is the trading and distribution of energy products globally – it trades 8 million barrels per day of crude oil and products and, at any time, has 250 ships transporting its cargoes. Vitol’s clients include national oil companies, multinationals, leading industrial and chemical companies and the world’s largest airlines. Founded in Rotterdam in 1966, today Vitol serves clients from some 40 offices worldwide and is invested in energy assets globally including: circa 16mm3 of storage globally, 480kbpd of refining capacity and 7,000 service stations across Africa, Australia, Brazil, Eurasia and in Northwest Europe. Revenues in 2019 were $225 billion.


Origine : Communiqué Tellurian

Voir la fiche entreprise de "Tellurian"





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