By Giulia Petroni 
 

Naturgy Energy Group SA said Wednesday that it has extended its contract with Puerto Rico's electric-power authority for the supply of liquefied natural gas until 2032.

The Spanish energy company said the contract's volume is estimated at 2 billion cubic meters of natural gas a year, and it could reach 3 Bcma based on the U.S. commonwealth's needs. The company said the price will be indexed to Henry Hub, the main U.S. gas benchmark.

"With this, more than 50% of Naturgy's American LNG supply will be sold at the same purchase index and for a term of more than 10 years, which mitigates risks and guarantees margin," Naturgy said.

Write to Giulia Petroni at giulia.petroni@wsj.com

(END) Dow Jones Newswires

October 28, 2020 05:20 ET (09:20 GMT)