Marathon Oil signs LNG sales agreement with Glencore Energy


Texas-based energy company Marathon Oil Corporation has signed a five-year liquified natural gas (LNG) sales agreement with Glencore Energy UK, a subsidiary of Glencore PLC.

Effective 1st January 2024, the agreement will see Marathon supply Glencore with LNG from the Alba Field in Equatorial Guinea. Marathon owns a 64% operating working interest in the project.

The pricing structure for the LNG sales agreement is linked to the Dutch Title Transfer Facility index, less a fixed transportation fee. This will provide Marathon Oil with incremental exposure to the European LNG market.

Lee Tillman, Chairman, President and CEO of Marathon, said he is excited to announce the new sales agreement linked to the European LNG market.

... to continue reading you must be subscribed

Subscribe Today

Paywall Asset Header Graphic

To access hundreds of features, subscribe today! At a time when the world is forced to go digital more than ever before just to stay connected, discover the in-depth content our subscribers receive every month by subscribing to gasworld.

Please wait...