Uniper has entered into a long-term natural gas supply agreement with Tourmaline, which spans eight years starting from November 2028.
The liquefied natural gas (LNG) netback supply agreement will see Tourmaline supply Uniper with 80,000 million British thermal units (MBtu) of natural gas per day, amounting to an estimated 234 billion cubic feet over the lifetime of the agreement.
The gas will be delivered to the ANR trading hub in south-east Louisiana, with pricing based on the Dutch title transfer facility (TTF).
This arrangement provides Tourmaline with exposure to international pricing, a strategic move for Canada's largest natural gas producer.
Uniper chief commercial officer Carsten Poppinga said: “We are extremely pleased to close this deal with one of Canada’s most respected gas producers.
“It showcases our ability to offer important international pricing exposure to a valued North America supplier and further diversifies Uniper’s LNG supply sourcing portfolio, an important aspect of our European security of supply objectives.”
The deal follows Uniper's separate LNG agreement with Woodside Energy, which includes commitments from Woodside's US-based Louisiana LNG production and export terminal for up to two million tonnes per annum.
Tourmaline president and chief executive officer Mike Rose said: “This long-term supply agreement with Uniper supports the continued execution of our market diversification strategy. We are proud to be supplying Canadian natural gas to meet rising demand in international markets and to enhance European energy security.”
Furthermore, in September last year, Uniper and ConocoPhillips broadened their long-standing gas collaboration, agreeing to a deal that will see the provision of as much as ten billion cubic metres of natural gas over the coming decade.
In a shared announcement, the two companies disclosed that ConocoPhillips will deliver natural gas to Uniper in north-western Europe, capitalising on its current network of gas pipelines and its expanding LNG portfolio.
