(Adds background on Gunvor's LNG purchase agreement with
Tellurian)
March 6 (Reuters) - U.S. energy company Chesapeake
Energy Corp said on Monday it would supply a unit of
Swiss commodity trader Gunvor Group Ltd with up to 2 million
tonnes per annum (MTPA) of U.S. liquefied natural gas (LNG) for
a period of 15 years.
U.S. LNG exporters have seen demand for the super-cooled
fuel soar after Europe imposed sanctions on Moscow over Russia's
invasion of Ukraine, squeezing an already-tight global natural
gas market.
Under the deal, the companies will choose a U.S. LNG export
plant to liquefy Chesapeake's gas and deliver the LNG to Gunvor
with a target start date in 2027.
The purchase price of the LNG will be indexed to the Japan
Korea Marker (JKM) , which is a benchmark gas price in
Asia.
The Chesapeake deal comes on the heels of a Feb. 28-deadline
for the expiration of Gunvor's agreement to buy 3-MTPA of LNG
from Tellurian's proposed Driftwood LNG export plant in
Louisiana for 10 years.
Officials at both Gunvor and Tellurian declined to comment
on whether their LNG sale and purchase agreement was canceled or
extended.
(Reporting by Sourasis Bose in Bengaluru and Scott DiSavino in
New York; Editing by Vinay Dwivedi and Alexander Smith)
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