Commonwealth LNG and KTG finalise 2mtpa LNG offtake deal with Glencore

Commonwealth LNG and Kimmeridge Texas Gas (KTG) person finalised binding agreements with Glencore to found a strategical concern successful earthy state and liquefied earthy state (LNG).

According to the presumption of the agreements, Glencore volition get 2 cardinal tonnes per annum (mtpa) of LNG from Commonwealth LNG.

The LNG volition beryllium obtained from Commonwealth LNG's export installation successful Cameron Parish, Louisiana, US.

Additionally, Glencore volition unafraid a corresponding proviso of earthy state from KTG nether a netback statement astatine planetary prices.

The companies signed a heads of presumption agreement regarding the offtake woody successful September 2024.

KTG CEO David Lawler said: "Our concern with Glencore furthers the translation of KTG into an integrated earthy state champion that provides reliable, cleanable vigor from wellhead to water. We look guardant to reaching captious planetary state markets successful concern with Glencore."

The statement with Glencore brings Commonwealth LNG's full semipermanent offtake to 3mtpa, arsenic the institution moves person to finalising its commercialized book.

Commonwealth LNG president and Kimmeridge managing spouse Ben Dell said: "Following from the archetypal concern announcement with Glencore past year, this captious milestone furthers our committedness to processing a state-of-the-art LNG export installation that volition prioritise biology stewardship and make lasting worth for section communities. We are pleased with our advancement and look guardant to hitting the cardinal targets connected our commercialisation timeline."

The statement besides marks a measurement towards the targeted last concern determination successful the 3rd 4th of 2025 (Q3 2025), with the archetypal LNG accumulation expected successful 2029.

Glencore LNG, Gas and Power planetary caput Maxim Kolupaev added: "Finalising our agreements with Kimmeridge Texas Gas and Commonwealth marks an important measurement successful advancing our planetary state strategy. By partnering with 2 manufacture leaders successful LNG and earthy gas, we are expanding our portfolio and reinforcing our committedness to a cleaner, much sustainable vigor future."

Glencore Singapore besides signed a contract with Australian lipid and state shaper Santos for the proviso of LNG cargoes successful September 2024.

Starting successful Q4 2025, Santos volition proviso LNG cargoes equivalent to up to astir 500,000 tonnes per annum implicit a three-year period.

The LNG volition beryllium sourced from Santos’ portfolio of LNG assets and delivered connected an ex-ship basis.

"Commonwealth LNG and KTG finalise 2mtpa LNG offtake woody with Glencore" was primitively created and published by Offshore Technology, a GlobalData owned brand.