Glencore Inks 20-Year LNG Deal with Commonwealth, Kimmeridge
(Reuters) — Commodities giant Glencore finalized a deal to buy 2 million tonnes per annum (mtpa) of LNG from Commonwealth's export facility in Louisiana, along with equivalent natural gas supply from Kimmeridge Texas Gas, the companies said on May 13.
The 20-year agreement, which was initially announced last year as non-binding, supports Commonwealth's aim to greenlight its LNG export facility in Cameron, Louisiana in the third quarter of 2025 and its first LNG production in 2029.
The U.S. LNG market is experiencing a boom, with the country surpassing Qatar as the world's top exporter, as new technology allows shale producers to tap massive reserves and help wean Europe off Russian gas while providing Asian buyers with a greener alternative for power generation.
"This partnership represents the further growth of our U.S. energy trading business, an area which continues to be a focus for significant investment," said Giles Jones, Glencore's head of U.S. energy.
Related News
Related News
- Kinder Morgan Proposes 290-Mile Gas Pipeline Expansion Spanning Three States
- Enbridge Plans 86-Mile Pipeline Expansion, Bringing 850 Workers to Northern B.C.
- Three Killed, Two Injured in Accident at LNG Construction Site in Texas
- Tallgrass to Build New Permian-to-Rockies Pipeline, Targets 2028 Startup with 2.4 Bcf Capacity
- TC Energy Approves $900 Million Northwoods Pipeline Expansion for U.S. Midwest
- U.S. Pipeline Expansion to Add 99 Bcf/d, Mostly for LNG Export, Report Finds
- Enbridge Adds Turboexpanders at Pipeline Sites to Power Data Centers in Canada, Pennsylvania
- Great Basin Gas Expansion Draws Strong Shipper Demand in Northern Nevada
- Cheniere Seeks FERC Approval to Expand Sabine Pass LNG Facility
- Heath Consultants Exits Locate Business to Expand Methane Leak Detection Portfolio
Comments