Chesapeake Energy Corp. has reached a tentative deal to supply Gunvor Group Ltd. with up to 2 million metric tons/year (mmty) of LNG from a U.S. liquefaction facility that the companies plan to jointly select. 

Export Projects

Under a heads of agreement (HOA) announced Monday, Chesapeake would supply global commodity trader Gunvor with the super-chilled fuel for 15 years beginning in 2027. Gunvor would purchase the liquefied natural gas at prices indexed to the Japan-Korea Marker on a free-on-board basis. 

The announcement builds on a strategy unveiled by Chesapeake last year to gain exposure to the international gas market. One of the largest producers in the Haynesville Shale, Chesapeake’s management team has previously discussed the possibility of taking equity stakes in liquefaction...