Page 14 - GLNG Week 24 2022

GLNG AMERICAS GLNG

Chesapeake seeks adviser

to help expand into LNG

OFFTAKE SHALE gas producer Chesapeake Energy is Last month, in the company’s earnings call,
seeking to expand into the LNG market and is Dell’Osso also revealed that Chesapeake would
planning to hire an LNG adviser to help advance seek to capitalise on its increased Haynesville
this expansion. shale position near the US Gulf Coast by sign-
According to a LinkedIn job posting, the firm ing more deals for LNG exports priced at global
is looking to hire someone to “lead new business indexes.
opportunities for Chesapeake” in LNG and pro- Additionally, he indicated in the call that the
vide executives with “guidance on LNG market- company could move to acquire a stake in an
ing activities”. LNG terminal in the future, with Chesapeake
In March, Chesapeake’s CEO, Nick Dell’Osso, already looking for direct contracts with overseas
confirmed at a conference that the firm was aim- consumers in an effort to secure higher prices.
ing to take on a greater role in the LNG market. “If the deal is linked to Henry Hub [in the
Chesapeake also recently took part in a gath- US], that is not as attractive to us,” Chesapeake’s
ering organised by trade groups the American executive vice president and chief financial
Exploration and Production Council (AXPC) officer, Mohit Singh, told S&P Global last month.
and LNG Allies with European countries seeking “What we are trying to diversify into is some sort
to reduce their reliance on Russian gas following of LNG index deal”, for example at the Dutch
Moscow’s invasion of Ukraine. Title Transfer Facility (TTF).
US shale gas producers including Chesapeake Chesapeake expects high demand for its gas
have been vocal about the need for pipeline production from the Haynesville play since it is
improvements and new LNG export capacity to certified as having lower emissions, potentially
ship gas to Europe in order for EU countries to making it more attractive to buyers looking for
wean themselves off Russian gas. cleaner natural gas.™

P14 www. NEWSBASE .com Week 24 17•June•2022