Tellurian signs MOU to supply LNG to Vitol
December 6, 2018
Tellurian announced that its subsidiary, Tellurian Trading UK has entered into a Memorandum of Understanding with Vitol to supply 1.5 MTPA of LNG from Tellurian Trading’s LNG offtake capacity at the proposed Driftwood LNG export terminal. The transaction price is based on the Platts JKM and is for a minimum term of 15 years.
Under the MOU, Tellurian and Vitol have agreed to negotiate an LNG SPA under which Vitol will purchase LNG free on board. The SPA will contain certain conditions precedent, including Tellurian’s receipt of regulatory approvals and a final investment decision to construct the Driftwood LNG export terminal.
Edited from Tellurian press release.