Latham & Watkins advises Vitol in a 15 Year LNG Sale

Latham & Watkins Advises Vitol in A 15 Year LNG Sale

According to Delfin Midstream Inc., a binding liquefied natural gas (LNG) sale and purchase agreement (SPA) with Vitol Inc. has finalized. (VIC), the Americas-based affiliate of Vitol is the world's largest independent trader of energy. Vitol has finalized a strategic investment in the company in addition to the SPA.

Delfin will supply 0.5 million tonnes per annum under the SPA on a free on-board basis at the Delfin Deepwater Port 40 nautical miles off the coast of Louisiana to VIC for a 15-year period. The SPA is indexed to Henry Hub benchmark. Over 15 years, the agreement is valued revenue at approximately US$3 billion.

Latham & Watkins LLP represented Vitol on the SPA with a deal team led by Houston partner Chris Peponis, with associates Jack Moxon and Chantal Carriere.