Trafigura signs long-term LNG agreement with Tourmaline
Published by Jessica Casey,
Editor
LNG Industry,
Trafigura, a market leader in the global commodities industry, has signed a long-term LNG agreement with Tourmaline, Canada’s largest natural gas producer. This marks the first time that Trafigura and Tourmaline have signed an LNG agreement together.
Tourmaline has increased its exposure to JKM by entering into a netback agreement with Trafigura based on 62 500 million Btu/d of LNG (~0.5 million tpy) for a seven-year term starting January 2027, with the potential for extension up to December 2039.
Tourmaline has also expanded its international exposure to include a physical net-back agreement with Trafigura Canada Limited which will receive Dutch TTF index pricing. Starting in March 2024, Tourmaline will deliver 50 000 million Btu/d of natural gas at AB-NIT and receive a Dutch TTF index price (less associated deductions) until December 2026.
Mike Rose, President and CEO for Tourmaline, said: “We are excited about our recent transaction with Trafigura and the opportunity to expand our exposure to international LNG markets.”
Richard Holtum, Global Head of Gas, Power and Renewables for Trafigura, added: “We’re delighted to build on our relationship with Tourmaline at a time when Canadian gas producers are starting to play a pivotal role in global LNG markets. Today’s agreements support our commitment to these markets and to the growth of our long-term portfolios, while demonstrating our ability to provide innovative, tailor-made solutions and ensuring security of supply for our customers worldwide.”
Read the article online at: https://www.lngindustry.com/liquid-natural-gas/16012024/trafigura-signs-long-term-lng-agreement-with-tourmaline/
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