German energy company Uniper and Tourmaline Oil Corp. (TSX:TOU), Canada’s largest producer of natural gas, have finalized an eight-year physical gas agreement for 80,000 Metric Million British Thermal Units (MMBtu) per day beginning in November 2028. The estimated lifetime total volume of the transaction is 234 billion cubic feet (bcf) [which equals approx. 6.6 billion cubic meters (bcm)].

Under the LNG Netback Supply Agreement, Tourmaline will deliver gas to the ANR SE trading hub in southeast Louisiana, USA. The contract is based on TTF (Dutch Title Transfer Facility) pricing, providing Tourmaline with international price exposure.

The agreement comes just a few months after Uniper signed a separate LNG sale-and-purchase agreement for up to 2.0 million tonnes per annum (mtpa) with Woodside Energy. That transaction included LNG supply commitments for 1.0 mtpa from Woodside’s US-based Louisiana LNG production and export terminal, which is currently under development.

Carsten Poppinga, Chief Commercial Officer, Uniper SE:
"The innovative agreement with Tourmaline leverages Uniper’s global energy trading capabilities and expertise in LNG markets to the benefit of both parties. He said it also represents an important expansion of Uniper’s supply sourcing capacity in North America."

Carsten Poppinga, CCO Uniper:
"We are extremely pleased to close this deal with one of Canada’s most respected gas producers. It showcases our ability to offer important international pricing exposure to a valued North America supplier and further diversifies Uniper’s LNG supply sourcing portfolio, an important aspect of our European security of supply objectives."

Mike Rose, Tourmaline’s President and CEO:
"This long-term supply agreement with Uniper supports the continued execution of our market diversification strategy. We’re proud to be supplying Canadian natural gas to meet rising demand in international markets and to enhance European energy security."

About Tourmaline Oil Corp.

Tourmaline is Canada's largest and most active natural gas producer dedicated to producing the lowest development-cost natural gas in North America. Tourmaline is an investment grade exploration and production company providing strong and predictable operating and financial performance through the development of three core areas in the Western Canadian Sedimentary Basin. With an existing large reserve base, decades-long drilling inventory, relentless focus on execution, cost management, safety and environmental performance improvement, Tourmaline is excited to provide shareholders an excellent return on capital and an attractive source of income through its base dividend and surplus free cash flow distribution strategies.

About Uniper

Düsseldorf-based Uniper is a European energy company with global reach and operations in more than 40 countries. With around 7,500 employees, the company plays a central role in ensuring a secure energy supply in Europe – particularly in its core markets of Germany, the United Kingdom, Sweden, and the Netherlands. With 14 gigawatts of flexible power generation capacity, Uniper is the backbone of reliable electricity production. As a leading gas trader and one of Northwestern Europe’s most important LNG importers, Uniper strengthens supply security with a broad procurement portfolio. Through investments in renewable energy, hydrogen, and other low-carbon energy carriers, Uniper is also driving the transformation of the energy system.

In its home market, Germany, Uniper supplies around 1,000 municipalities and industrial companies with energy and services. In addition, Uniper is Germany’s largest operator of gas storage facilities and hydropower plants.