Tellurian inks 10-year LNG purchase deal with Gunvor

Tellurian Inc. and Gunvor Singapore Pte Ltd. have signed an LNG sales and purchase agreement for 3 million tons per annum for a 10-year period, according to a May 27 press release. The announcement comes as welcome news following a difficult year for Tellurian and its proposed Driftwood LNG facility, largely caused by pandemic-induced market uncertainty.

As per the agreement, the LNG would be delivered from the 27.6 MTPA Driftwood facility, to be located near Lake Charles. “At today’s LNG prices, this agreement represents the equivalent of approximately $12 billion in revenue over the 10-year term of the agreement,” says Tarek Souki, Tellurian executive vice president of LNG marketing & trading. Read the full story.