Glencore is to buy two million tonnes per annum of LNG as part of a 20-year deal with two Texas companies.
The leading mining company struck the deal with Commonwealth LNG, and will be supplied the equivalent natural gas supply from Kimmeridge Texas Gas (KTG) under a netback agreement at international prices.
The agreements are expected to be finalised in Q4. Commonwealth anticipates a final investment decision on its LNG export facility in Cameron, Louisiana in the first half of 2025, with the first LNG production expected in 2028.
David Lawler, KTG CEO and President, said, “Our partnership with Glencore represents another tangible step forward for the KTG platform in becoming a fully integrated provider of reliable, secure and clean energy from wellhead to water.”
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