Post Tagged with: "SPA"

Source: Royal Dutch Shell

Total Invests $500 Million in Tellurian, Enters Into LNG SPA

By Tyler Losier, Energy Reporter, Oil & Gas 360 Total commits to purchasing an aggregate of 2.5 Mtpa Total S.A. (stock ticker: TOT), through its subsidiaries Total Delaware and Total Gas & Power North America, has entered into a definitive agreement to purchase 1 Mtpa from Tellurian’s (stock ticker: TELL) Driftwood LNG terminal. Total will also invest $500 million in Tellurian subsidiary Driftwood Holdings L.P. In addition, Total Gas & Power has entered into a sales and purchase agreement (SPA) with Tellurian to acquire an added 1.5 Mtpa of LNG offtake volumes from Driftwood. The SPA is for the purchase of LNG free on board at a price based on the Platts Japan Korea Marker. Source: Driftwood LNG The terms of the… Login or click here to subscribe Username or E-mail Password Remember Me     Forgot Password

Source: W&T Offshore

W&T Offshore Enters $200 Million PSA

By Tyler Losier, Energy Reporter, Oil & Gas 360 W&T Offshore to purchase Gulf of Mexico interests from ExxonMobil for $200 million W&T Offshore, Inc. (stock ticker: WTI), a Houston-based independent E&P, has entered into a sales and purchase agreement with ExxonMobil to acquire the company’s interests located off the coast of Alabama in the Gulf of Mexico. The transaction, which has a price tag of $200 million, includes working interests in nine offshore producing fields and an onshore treating facility, all of which are immediately adjacent to W&T’s existing assets. The acquisition will bolster the company’s net proved reserves by 74 million BOE, with 99% of those resources considered proved developed produci… Login or click here to subscribe

Source: Woodfibre LNG

Canadian LNG Company Signs SPA with BP

By Tyler Losier, Energy Reporter, Oil & Gas 360 Woodfibre LNG to deliver 0.75 Mtpa over 15-year period Woodfibre LNG, a wholly owned subsidiary of Pacific Oil & Gas Limited, has signed a binding sales and purchase agreement with BP Gas Marketing Limited, a wholly owned subsidiary of BP (stock ticker: BP), for the delivery of 0.75 Mtpa of LNG over a 15-year period. The first delivery from Woodfibre’s LNG export facility, to be located approximately 7 kilometers west of Squamish, British Columbia, is expected to occur in 2023. In addition to the SPA, Woodfibre is also working with BP Canada to develop an agreement for BP to provide gas transportation and balancing services to help ensure reliable delivery of LNG over the co… Login or click here to subscribe

Commonwealth LNG Lays Groundwork for 1.5 Mtpa Deal

Commonwealth LNG Lays Groundwork for 1.5 Mtpa Deal

Signs HOA anticipating the negotiation of a 15-year SPA Commonwealth LNG, a subsidiary of Commonwealth Projects, LLC, has signed a heads of agreement (HOA) with commodities trading house Gunvor Singapore Pte Ltd., a subsidiary of Gunvor Group Ltd. The HOA lays the groundwork for the negotiation of a definitive 15-year, 1.5 Mtpa sale and purchase agreement (SPA), supplied by Commonwealth’s forthcoming Cameron, Louisiana-based LNG facility. Commonwealth expects a final investment decision on the project late next year. Source: Commonwealth LNG Commonwealth LNG’s Gulf Coast export terminal is currently under development. It expects final FERC approval in Q3 of this year, a financial close and the start of construction in Q1 2021, and… Login or click here to subscribe

Cheniere's Corpus Christie Plant

More U.S. Gas Earmarked for China: Cheniere, CNPC Go Long-Term

Cheniere Energy, Inc. (ticker: LNG) has entered into two LNG sale and purchase agreements (SPA) with China National Petroleum Corporation (CNPC). Under the SPAs with Cheniere’s subsidiaries, Corpus Christi Liquefaction, LLC and Cheniere Marketing International LLP, CNPC subsidiary PetroChina International Company Limited will purchase approximately 1.2 million tons per annum of LNG, with a portion of the supply beginning in 2018 and the balance beginning in 2023. The term of each SPA continues through 2043 and the purchase price for LNG will be indexed to the Henry Hub price, plus a fixed component. “We are pleased to announce these LNG contracts with China National Petroleum Corporation, an important global energy player in one of the largest and fastest growing LNG markets worldwide,” said Jack Fusco, Cheniere’s president and CEO. “These long-term SPAs build upon the Memorandum of Understanding we signed in November, and we look forward to a successful long-term[Read More…]

February 9, 2018 - 2:51 pm China, Closing Bell Story, LNG, Oil and Gas 360 Articles