Cheniere Marketing and ENGIE sign 5-year LNG sale and purchase agreement
Cheniere Energy, Inc. announced today that its wholly owned subsidiary, Cheniere Marketing International LLP ("Cheniere Marketing") has entered into a 5-year Sale and Purchase Agreement ("SPA") with ENGIE S.A. for the delivery of liquefied natural gas ("LNG") cargoes on an ex-ship basis ("DES") primarily to the Montoir de Bretagne LNG regasification terminal in France, the company said in its press release. The SPA covers the delivery of up to 12 cargoes per year, or up to approximately 222 million MMBtus in total, from 2018 to 2023. Cheniere Marketing will sell the volumes at contract prices linked to Northern European indices.
Volumes will be sourced from Cheniere Marketing's global LNG supply portfolio, which includes rights under separate SPAs with Sabine Pass Liquefaction, LLC and Corpus Christi Liquefaction, LLC to purchase any LNG produced from the Sabine Pass and Corpus Christi liquefaction projects in excess of that required for other customers. On a combined basis, Cheniere Marketing's LNG portfolio is expected to have approximately 9 million tonnes per annum ("mtpa") of LNG available from the nine liquefaction trains being developed at Sabine Pass and Corpus Christi.
About Cheniere Energy, Inc.
Cheniere Energy, Inc. is a Houston-based energy company primarily engaged in LNG-related businesses and owns and operates the Sabine Pass LNG terminal and Creole Trail Pipeline in Louisiana. Cheniere is pursuing related business opportunities both upstream and downstream of the Sabine Pass LNG terminal. Through its subsidiary, Cheniere Energy Partners, L.P., Cheniere is developing a liquefaction project at the Sabine Pass LNG terminal adjacent to the existing regasification facilities for up to six Trains, each of which is expected to have a nominal production capacity of approximately 4.5 mtpa of LNG.
