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Marathon Oil Announces LNG Sales Agreement for Alba Gas in E.G.

PR Newswire - Mon Oct 16, 2023

Incremental European LNG Exposure to Drive Significant E.G. Financial Uplift Starting Jan 2024

HOUSTON, Oct. 16, 2023 /PRNewswire/ -- Marathon Oil Corporation (NYSE: MRO) announced that through its wholly-owned subsidiaries it has entered into a five-year firm LNG sales agreement with Glencore Energy UK Ltd, a subsidiary of Glencore PLC (LSE: GLEN), for a portion of its equity natural gas produced from the Alba Field (Alba Unit, MRO 64% working interest) in Equatorial Guinea (E.G.), effective Jan. 1, 2024. The pricing structure for the LNG sales agreement is linked to the Dutch Title Transfer Facility (TTF) index, less a fixed transportation fee, providing Marathon Oil with significant incremental exposure to the European LNG market.

Read more at prnewswire.com

Provided Content: Content provided by PR Newswire. The Globe and Mail was not involved, and material was not reviewed prior to publication.

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