Tourmaline signs LNG supply agreements with Trafigura

Canadian gas producer Tourmaline January 15 announced the signing of two LNG supply agreements with commodity trader Trafigura. 

Tourmaline has elevated its exposure to the Japan Korea Marker (JKM) by entering into a netback agreement with Trafigura. This agreement is based on a 62,500mn Btu/day (approximately 0.5mn tonnes/year) of LNG. The partnership is set for a seven-year term, commencing in January 2027, with provisions for potential extensions until December 2039.

In a bid to diversify its international presence, Tourmaline has inked a physical netback agreement with Trafigura Canada, incorporating Dutch Title Transfer Facility (TTF) index pricing. Effective from March 2024, Tourmaline will supply 50,000mn Btu/day of natural gas at AB-NIT, receiving a Dutch TTF index price until December 2026.

Tourmaline holds positions in three resource plays within the Western Canadian sedimentary basin. These include the Alberta Deep Basin, the Northeast British Columbia Montney, and the Peace River Triassic Oil complex.