Chevron is in talks to supply LNG to Europe for deals of up to 15 years, part of a broader trend for long-term natural gas deals in Europe.
U.S. supermajor Chevron is in talks to supply LNG to Europe in deals of up to 15 years as European buyers have moved from spot and short-term supply to longer-term deliveries after the Russian invasion of Ukraine, a Chevron executive has told Reuters. “European customers want medium-term deals in the up to 15 years space and we’re working on some commercial deals,” Colin Parfitt, head of Chevron’s trading, shipping and pipeline operations, told Reuters.
Chevron is expected to supply most of the LNG to Europe from U.S. export terminals. Qatar, another major LNG exporter apart from the United States, last month signed agreements with three European majors to deliver LNG to Europe from its expansion projects expected to come online in 2026. QatarEnergy and TotalEnergies signed two long-term LNG agreements under which Qatar will supply up to 3.5 million tons per year of LNG to France for 27 years beginning in 2026.
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