US exploration and production company Chesapeake Energy Corporation will supply Swiss energy firm Vitol with up to one million tonnes per annum of liquified natural gas (LNG) under a newly signed Heads of Agreement (HOA).
Chesapeake and Vitol will together pick the most optimal liquefaction in the US to liquify the gas produced by Chesapeake to be supplied to Vitol. Supply is expected to start in 2028.
Nick Dell’Osso, President and CEO of Chesapeake, said he is pleased to expand the company’s relationship with Vitol and looks forward to entering into additional agreement as export capacity continues to come online.
He continued, “Today’s announcement marks another important step on our path to ‘be LNG ready’, and is further recognition of the premium rocks, returns, and runway of our advantaged portfolio and the strength of our financial position.”
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