Chesapeake, Delfin LNG, and Gunvor signal long-term liquefaction offtake settlement

Beneath the SPA, Chesapeake will buy roughly 0.5 million tpy of LNG from Delfin at a Henry Hub value and contract focused begin date in 2028, then ship to Gunvor on an FOB foundation with the gross sales value linked to the Japan Korea Marker (JKM) for a interval of 20 years. These volumes will characterize 0.5 million tpy of the beforehand introduced as much as 2 million tpy HOA with Gunvor.

Nick Dell’Osso, Chesapeake President and CEO, stated: “At the moment’s announcement cements an essential step on our path to ‘Be LNG Prepared’ and is additional recognition of the depth of our portfolio and power of our monetary place. We’re happy to formalise our settlement which gives diversification and entry to international LNG pricing whereas enabling the supply of inexpensive, dependable, decrease carbon power to markets in want.”

Dudley Poston, Delfin CEO, added: “We’re excited to companion with a premier firm like Chesapeake. We consider our distinctive liquefaction resolution gives Chesapeake with industrial flexibility with a diminished environmental footprint, whereas offering a much-needed supply of further provide to key US allies and the worldwide LNG market.”

Kalpesh Patel, Co-Head of LNG Buying and selling and a member of the Govt Commit-tee of Gunvor, concluded: “This deal represents an essential step in finalising the 0.5 million tpy out of our complete of two million tpy association with Chesapeake, whereas increasing our current co-operation with Delfin. We proceed to offer dependable and aggressive logistics providers to our companions by utilising our fleet consisting of vessels procured through time period charters and fairness possession. Gunvor seems ahead to establishing further agreements with the businesses within the close to future.”

Learn the article on-line at: https://www.lngindustry.com/liquefaction/14022024/chesapeake-delfin-lng-and-gunvor-sign-long-term-liquefaction-offtake-agreement/