Tellurian signs 10-year LNG agreement with Vitol
U.S. LNG developer Tellurian signed a 10-year agreement with Vitol, the world's largest independent energy trader, for 3 million tons per year (MMtpy) of LNG.
The agreement is valued at about $12 billion in revenue over the deal period, Tellurian said.
Demand for LNG has surged in recent years as nations including China and India buy more of the super-cooled fuel to meet fast-growing energy needs while also weaning consumers off dirtier coal.
Last week, Tellurian also signed a 10-year agreement with commodity trader Gunvor Group for 3 MMtpy of LNG. The LNG would be delivered from Driftwood LNG, a 27.6 MMtpy liquefaction facility it proposed near Lake Charles, Louisiana in the U.S. Gulf Coast.
Tellurian said it continues to execute its plans to market Driftwood LNG volumes.
The two agreements represent an aggregate of $24 billion in estimated revenue, Tellurian said.
The company released a presentation last week that said its proposed Driftwood export plant in Louisiana was positioned for the first quarter of 2022 commerciality. (Reporting by Arunima Kumar in Bengaluru; Editing by Maju Samuel)
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