Global law firm White & Case LLP has advised Vitol Inc. (Vitol) on a liquefied natural gas sales and purchase agreement (SPA) with Tellurian Inc. (Tellurian). The SPA is for three million tonnes per annum on a free on board (FOB) basis at Driftwood LNG for a 10 year period, indexed to a combination of two indices: the Japan Korea Marker and the Dutch Title Transfer Facility, each netted back for transportation charges. The agreement is valued at approximately US$12 billion in revenue over 10 years.
Vitol is a commodity trader and the world's largest independent energy trader. Vitol trades and distributes energy safely and responsibly around the world using its logistical expertise and infrastructure network.
The White & Case transaction team was led by partners Chris Peponis and Chris Richardson, and included associates Jack Moxon, Chantal Carriere and Yuxi Wang (all in Houston).
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