Coterra Energy and Vitol enter into long-term LNG indexed gas supply agreement
Published by Jessica Casey,
Editor
LNG Industry,
Coterra Energy and Vitol Inc. has announced the execution of a natural gas sale and purchase agreement (SPA). Under the SPA, Coterra will supply 100 000 million Btu/d of natural gas (equivalent of approximately 0.7 million tpy of LNG) to Vitol with the purchase price indexed to JKM for a period of 11 years, beginning in 2027.
Coterra’s Chairman, CEO, and President, Thomas Jorden, said: “The US has an abundant, low-cost natural gas resource that can help support energy reliability and energy affordability around the world. America’s role as a major energy exporter further strengthens our nation’s standing on the global stage. Coterra is pleased to further expand on our valuable relationship with Vitol.”
Ben Marshall, Head of Vitol Americas, added: “We are pleased to build upon our relationship with Coterra, a premier producer in US oil and gas space. As the energy landscape continues to evolve, US natural gas production will continue to play a critical role in satisfying the world’s energy needs. Since 2005, Vitol has been serving LNG customers worldwide and this transaction highlights Vitol’s ability to provide innovative gas and LNG solutions as we continue to strengthen our position to safely and reliably deliver cost effective, flexible solutions around the world.”
Read the article online at: https://www.lngindustry.com/liquid-natural-gas/01112024/coterra-energy-and-vitol-enter-into-long-term-lng-indexed-gas-supply-agreement/
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