Tourmaline has entered into a long-term agreement to deliver 50 000 million Btu/d of natural gas (equivalent to five LNG cargoes per year) to Centrica Energy, the energy trading and optimisation arm of Centrica plc. Centrica Energy has LNG trading operations in the UK and Singapore, enabling it to serve energy demands across all major time zones and key global markets. The agreement will commence April 2028 for a 10-year term and is indexed to the TTF price less associated deductions.
Tourmaline has executed a short-term LNG Netback supply agreement with EDF Trading North America, a leading marketer of natural gas and power in the US. Under the terms of the agreement, Tourmaline will supply 50 000 million Btu/d of natural gas to the US Gulf Coast over a 19-month period beginning April 2027. Pricing will be indexed to TTF, providing Tourmaline with international market exposure, net of associated deductions. This agreement supports Tourmaline’s strategic objective of diversifying market access and enhancing revenue through global pricing mechanisms.
Tourmaline has also entered into a short-term LNG Netback supply agreement with Hartree Partners, LP a leading global merchant commodities firm specialising in energy and associated industries. Tourmaline will supply 30 000 million Btu/d for a one-year term starting April 2026 and will receive a TTF price less associated deductions.
Tourmaline will have an average of 213 000 million Btu/d exposed to international pricing (TTF/JKM) in 2026. This will grow to 253 000 million Btu/d by exit 2027 and 333 000 million Btu/d by exit 2028.
The company has also entered into a long-term natural gas storage agreement with AltaGas at its Dimsdale Storage Facility in Alberta. AltaGas has recently announced a positive final investment decision (FID) for the Phase 1 expansion of its Dimsdale Facility. Tourmaline will have access to 6 billion ft3 of storage capacity starting April 2026 for a 10-year term, with the ability to increase to 10 billion ft3 in the event that AltaGas takes FID on Phase 2. The company views the addition of another large storage position as a strategic opportunity to enhance financial performance and strengthen operational flexibility in volatile natural gas price environments.