Uniper and Tourmaline sign eight-year gas deal, boosting North American supply, European energy security, and international price exposure.
German energy giant Uniper has entered into a landmark eight-year natural gas supply agreement with Tourmaline Oil Corp., Canada's largest natural gas producer. Under the terms of this long-term deal, Tourmaline will supply 80,000 Metric Million British Thermal Units (MMBtu) of natural gas per day, starting in November 2028. Over the life of the contract, the total gas volume is expected to reach approximately 234 billion cubic feet (bcf), equivalent to roughly 6.6 billion cubic meters (bcm).
The deal is structured as an LNG Netback Supply Agreement, which enables Tourmaline to deliver the gas to the ANR SE trading hub, located in southeast Louisiana, USA. A key feature of this contract is that it will be priced based on the Dutch Title Transfer Facility (TTF), a benchmark gas trading platform in Europe. This pricing mechanism allows Tourmaline to gain direct exposure to international market prices, thereby enhancing its global market reach and revenue potential.
This partnership comes at a strategic time for both companies. It follows Uniper’s earlier liquefied natural gas (LNG) purchase agreement with Woodside Energy, which was announced just months ago. That deal includes commitments for up to 2 million tonnes per annum (mtpa) of LNG, with 1 mtpa sourced from Woodside’s upcoming LNG production and export facility in Louisiana, currently under development.
According to Carsten Poppinga, Chief Commercial Officer at Uniper SE, the agreement with Tourmaline reflects Uniper's ability to harness its global energy trading and LNG market expertise. He emphasized that the deal represents a meaningful expansion of Uniper’s gas supply sources in North America and helps diversify its LNG portfolio, which is critical for enhancing energy security in Europe. Poppinga remarked, “We are extremely pleased to close this deal with one of Canada’s most respected gas producers. It showcases our ability to offer international pricing exposure to a valued North American supplier while advancing our European supply security objectives.”
Mike Rose, President and CEO of Tourmaline, echoed similar sentiments, highlighting the strategic significance of the agreement in advancing the company's market diversification strategy. He stated, “This long-term supply agreement with Uniper supports the continued execution of our strategy. We’re proud to be supplying Canadian natural gas to meet growing international demand and to contribute to Europe’s energy stability.”
By combining North American gas production with European pricing models and global delivery infrastructure, the agreement positions both companies to benefit from the shifting dynamics of the global energy market.
