Chesapeake Energy, Delfin LNG and Gunvor Group Ltd., through Gunvor Singapore Pte Ltd., entered into an LNG sale and purchase agreement for long-term liquefaction offtake, Chesapeake announced in a Feb. 13 press release.

As part of the agreement, Chesapeake will purchase approximately 0.5 million tonnes per annum (mtpa) of LNG from Delfin at a Henry Hub price with a targeted start date in 2028. Deliveries to Gunvor will be on a free-on-board basis, with the sales price linked to the Japan Korea Marker for 20 years.

"This deal represents an important step in finalizing the 0.5 mtpa out of our total of 2.0 mtpa arrangement with Chesapeake, while expanding our existing cooperation with Delfin,” Kalpesh Patel, co-head of LNG trading and a member of the executive committee of Gunvor, said. “We continue to provide reliable and competitive logistics services to our partners by utilizing our fleet consisting of vessels procured via term charters and equity ownership. Gunvor looks forward to establishing additional agreements with the companies in the near future."