WASHINGTON (dpa-AFX) - Marathon Oil Corp. (MRO) said that through its
wholly-owned subsidiaries it has reached a five-year firm LNG sales agreement
with Glencore Energy UK Ltd, a subsidiary of Glencore Plc (GLEN), for a portion
of its equity natural gas produced from the Alba Field (Alba Unit, MRO 64%
working interest) in Equatorial Guinea, effective January 1, 2024.

Marathon Oil noted that the pricing structure for the LNG sales agreement is
linked to the Dutch Title Transfer Facility index, less a fixed transportation
fee, providing Marathon Oil with significant incremental exposure to the
European LNG market.

Separately, due to the expected arbitrage between LNG and methanol pricing,
Marathon Oil said that it expects to optimize its Equatorial Guinea integrated
gas operations in 2024 by redirecting a portion of Alba Unit natural gas from
the local methanol facility (MRO 45% working interest) to the LNG facility (MRO
56% working interest).



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