Gunvor Singapore and Vitol, the commodities traders have signed 10-year LNG sales and purchase agreements with US natural gas company Tellurian. Both agreements are currently valued at around $12 billion in revenue over the 10-year period.
Tellurian president and CEO, Octávio Simões, said “Tellurian hopes to market up to 10 million tpa of LNG from the first phase of Driftwood LNG, and welcomed Gunvor Singapore to the project.
“Tellurian continues to execute on our plan to market Driftwood LNG volumes on indices that our customers want. As the world electrifies and our population grows, the demand for reliable, low-cost energy will continue to increase.”
Driftwood LNG is currently under development, and when fully complete, it will have three storage tanks each with a capacity of 235,000 m3, and three marine berths. Building was postponed in 2020 after the company failed to gain enough interest from potential partners to secure financing for construction. However, the company said it expected to sign sufficient deals to begin construction in 2021.
For more information visit www.tellurianinc.com
