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Tellurian and Gunvor sign LNG SPA

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LNG Industry,

Tellurian Inc. and Gunvor Singapore Pte Ltd have announced an LNG sales and purchase agreement (SPA) for three million tpy for a 10 year period, indexed to a combination of two indices; the Japan Korea Marker (JKM) and the Dutch Title Transfer Facility (TTF), netted back for transportation charges. The LNG would be delivered free on board (FOB) from Tellurian’s Driftwood LNG, a 27.6 million tpy liquefaction facility proposed near Lake Charles, Louisiana in the US Gulf Coast.

President and CEO Octávio Simões said, “Tellurian intends to market up to 10 million tpy of LNG in our first phase on a JKM, TTF or blended price basis, as our integrated model provides the flexibility to offer this valuable product. We welcome Gunvor, the largest independent global trader of LNG volumes, to Driftwood and look forward to providing a cleaner fuel to meet growing global energy needs and enable energy access.”

Executive Vice President LNG Marketing & Trading Tarek Souki added, “Our business model creates significant value for Tellurian; at today’s LNG prices, this agreement represents the equivalent of approximately US$12 billion in revenue over the 10-year term of the agreement.”

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