German energy company Uniper has entered into a long-term natural gas supply agreement with Tourmaline Oil Corp., Canada's largest natural gas producer. The eight-year deal will commence in November 2028 and will supply 80,000 Metric Million British Thermal Units (MMBtu) per day, totaling an estimated 234 billion cubic feet (bcf) over the contract's lifetime. This agreement enhances Uniper's LNG supply sourcing portfolio, aligning with its European security of supply objectives. The gas will be delivered to the ANR SE trading hub in southeast Louisiana, USA, based on TTF pricing, providing Tourmaline with international price exposure. This follows Uniper's recent LNG sale-and-purchase agreement with Woodside Energy, further expanding its supply capacity in North America.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.