Cheniere subsidiary Signs Long-Term LNG Sale and Purchase Agreement
Cheniere Energy announced today that its subsidiary, Cheniere Marketing, LLC, has entered into a binding liquefied natural gas (“LNG”) sale and purchase agreement (“SPA”) with a subsidiary of Glencore plc (“Glencore”). Under the SPA, Glencore has agreed to purchase approximately 0.8 million tonnes per annum of LNG from Cheniere Marketing on a free-on-board basis for a term of approximately 13 years beginning in April 2023. The purchase price for LNG under the SPA is indexed to the Henry Hub price, plus a fixed liquefaction fee.
The Corpus Christi Stage 3 project is being developed to include up to seven midscale liquefaction trains with a total expected nominal production capacity of approximately 10 mtpa. It has received all necessary regulatory approvals.
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