Gunvor signs LNG supply contract with Delfin Midstream

Gunvor, a commodity?trading company, has signed an agreement for the long-term sale and purchase of liquefied natural gas (LNG) with 'Delfin Midstream'.

This is the second deal of this kind between the two companies within the last two and a half years. Delfin announced in November 2023 that it had entered into an 'long-term agreement with Gunvor for the supply of 500,000 to one million metric tons per year, lasting at least 15 years.

Gunvor has signed a new agreement that will see it receive 300,000 tonnes of LNG annually for the next 20 years, from the Delfin facility FLNG1, located near the coast of Louisiana.

In a statement, Kalpesh patel, Gunvor's cohead of LNG said: "The deal represents a further enhancement of Gunvor’s LNG portfolio. Together with our robust fleet we will continue positioning ourselves as a dependable supplier of LNG for all destinations around the globe."

Gunvor is also aiming to increase U.S. investment after the management buyout of Gunvor, a Swiss trading house. Gary Pedersen was the American who took over the Swiss-based trading house. Its U.S. LNG Portfolio?includes a number of deals with Chesapeake, Glenfarne, and other companies.

Since Russia's invasion of Ukraine in 2022, the global demand for LNG has risen. This is driving buyers in Europe and Asia into long-term supply agreements with U.S. suppliers.

(source: Reuters)