Chesapeake Energy Corp., Oklahoma City, has signed a 15-year LNG supply agreement with Gunvor Group Ltd.
The heads of agreement between Chesapeake Energy Marketing LLC and Gunvor Singapore Pte Ltd. calls for Chesapeake to supply up to 2 million tonnes/year (tpy) of LNG to Gunvor with the purchase price indexed to Japan Korea Marker (JKM).
Chesapeake and Gunvor will jointly select the US liquefaction plant from which natural gas produced by Chesapeake will be liquefied and delivered to Gunvor on a Free-on-Board (FOB) basis. The companies are targeting a start date in 2027.