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Energy Transfer (NYSE:ET) said Wednesday it will supply Chevron (CVX) with an additional 1M metric tons/year of liquefied natural gas from its Lake Charles LNG export facility.
The 20-year agreement increases Chevron’s (CVX) total contracted volume from Energy Transfer (NYSE:ET) to 3M tons/year, following the initial 2M tons/year agreement signed in December 2024.
Energy Transfer (NYSE:ET) said it will supply the LNG to Chevron (CVX) on a free-on-board basis, and the purchase price will consist of a fixed liquefaction charge and a gas supply component indexed to the Henry Hub benchmark.
The agreement is subject to Energy Transfer (ET) reaching a positive final investment decision on the Lake Charles LNG project.
The pipeline operator signed a deal with Japan’s Kyushu Electric Power for 1M tons/year of LNG in May and entered a non-binding agreement with MidOcean Energy for 5M tons/year in April.