ARC Resources To Sell LNG Offtake From Cedar LNG Project To ExxonMobil LNG Asia Pacific

ARC Resources

16.03 EUR 3.41%

• Charts
• News
• Analysen

Kaufen Verkaufen

(RTTNews) - ARC Resources Ltd. (ARX.TO) announced Tuesday it has entered into a long-term sale and purchase agreement with ExxonMobil LNG Asia Pacific, an ExxonMobil (XOM) affiliate, for the supply of liquefied natural gas.

Under the agreement ExxonMobil LNG will purchase all of ARC's LNG offtake from the Cedar LNG Project at international LNG pricing, which will be approximately 1.5 million tonnes per annum.

The agreement commences with commercial operations at the Cedar LNG Facility, expected late 2028, and continues for the term of ARC's liquefaction tolling services agreement with Cedar LNG Partners LP.

This agreement provides ExxonMobil with advantaged access to Asian LNG markets by establishing ExxonMobil's first long-term offtake position on Canada's Pacific Coast.

Over the past three years, ARC has entered into three long-term agreements that will provide exposure to international LNG pricing.