Cheniere and Engie Increase Volume and Extend Term of LNG Sale and Purchase Agreement
10 March 2022 - 12:00AM
Business Wire
Cheniere Energy, Inc. (“Cheniere” or the “Company”) (NYSE
American: LNG) announced today that its subsidiary, Corpus Christi
Liquefaction, LLC (“CCL”), has agreed with Engie SA (“Engie”) to
amend the liquefied natural gas (“LNG”) sale and purchase agreement
(as amended, the “SPA”) the parties previously entered into in June
2021.
Under the SPA, Engie has agreed to purchase approximately 0.9
million tonnes per annum of LNG from CCL on a free-on-board basis
for a term of approximately 20 years, which began in September
2021. The purchase price for LNG under the SPA is indexed to the
Henry Hub price, plus a fixed liquefaction fee.
“We are pleased to build upon the long-term agreement we signed
in 2021 with Engie, one of Europe’s energy leaders in low carbon
solutions, to increase the volume and extend the term beyond 2040,”
said Jack Fusco, Cheniere’s President and Chief Executive Officer.
“This SPA reflects the importance of a diverse and reliable
long-term supply of natural gas for Europe and reinforces the value
the LNG market places in Cheniere’s commitment to climate and
sustainability initiatives. We look forward to continuing to supply
Engie with flexible, cleaner burning LNG as part of our shared
vision of a lower carbon future.”
About Cheniere
Cheniere Energy, Inc. is the leading producer and exporter of
liquefied natural gas (LNG) in the United States, reliably
providing a clean, secure, and affordable solution to the growing
global need for natural gas. Cheniere is a full-service LNG
provider, with capabilities that include gas procurement and
transportation, liquefaction, vessel chartering, and LNG delivery.
Cheniere has one of the largest liquefaction platforms in the
world, consisting of the Sabine Pass and Corpus Christi
liquefaction facilities on the U.S. Gulf Coast, with total
production capacity of approximately 45 million tonnes per annum of
LNG in operation. Cheniere is also pursuing liquefaction expansion
opportunities and other projects along the LNG value chain.
Cheniere is headquartered in Houston, Texas, and has additional
offices in London, Singapore, Beijing, Tokyo, and Washington,
D.C.
For additional information, please refer to the Cheniere website
at www.cheniere.com and Annual Report on Form 10-K for the year
ended December 31, 2021, filed with the Securities and Exchange
Commission.
Forward-Looking Statements
This press release contains certain statements that may include
“forward-looking statements” within the meanings of Section 27A of
the Securities Act of 1933 and Section 21E of the Securities
Exchange Act of 1934. All statements, other than statements of
historical or present facts or conditions, included herein are
“forward-looking statements.” Included among “forward-looking
statements” are, among other things, (i) statements regarding
Cheniere’s financial and operational guidance, business strategy,
plans and objectives, including the development, construction and
operation of liquefaction facilities, (ii) statements regarding
regulatory authorization and approval expectations, (iii)
statements expressing beliefs and expectations regarding the
development of Cheniere’s LNG terminal and pipeline businesses,
including liquefaction facilities, (iv) statements regarding the
business operations and prospects of third parties, (v) statements
regarding potential financing arrangements, (vi) statements
regarding future discussions and entry into contracts, (vii)
statements relating to Cheniere’s capital deployment, including
intent, ability, extent, and timing of capital expenditures, debt
repayment, dividends, and share repurchases, and (viii) statements
regarding the COVID-19 pandemic and its impact on our business and
operating results. Although Cheniere believes that the expectations
reflected in these forward-looking statements are reasonable, they
do involve assumptions, risks and uncertainties, and these
expectations may prove to be incorrect. Cheniere’s actual results
could differ materially from those anticipated in these
forward-looking statements as a result of a variety of factors,
including those discussed in Cheniere’s periodic reports that are
filed with and available from the Securities and Exchange
Commission. You should not place undue reliance on these
forward-looking statements, which speak only as of the date of this
press release. Other than as required under the securities laws,
Cheniere does not assume a duty to update these forward-looking
statements.
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version on businesswire.com: https://www.businesswire.com/news/home/20220307005935/en/
Cheniere Energy, Inc.
Investors Randy Bhatia,
713-375-5479 Frances Smith, 713-375-5753
Media Relations Eben
Burnham-Snyder, 713-375-5764
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