Endesa increases LNG purchases from Cheniere

Cheniere Energy has signed a further LNG sale and purchase agreement (SPA) with Endesa, under which Endesa has agreed to purchase approximately 0.75 million tpa of LNG from the Corpus Christi Liquefaction Project in Texas.

Additional LNG

The SPA is in addition to the previously signed SPA under which Endesa will purchase approximately 1.5 million tpa of LNG, bringing the total quantity of LNG sold to Endesa under the two agreements to approximately 2.25 million tpa. The Corpus Christi project is being designed and permitted for up to three trains, with a total production capacity of 13.5 million tpa of LNG.

The SPA has a term of twenty years commencing upon the date of first commercial delivery and an extension option of up to ten years. Deliveries are expected to occur as early as 2018.

Comments

Charif Souki, Cheniere CEO, commented: "Endesa has agreed to purchase an additional 0.75 million tpa from the Corpus Christi Liquefaction Project for use by their Italian parent company Enel. We have now entered into a total of approximately 3 million tpa of SPAs at the project, completing the SPAs for Train 1. We continue to work towards finalising additional agreements and expect to complete all necessary steps to reach a final investment decision and begin construction by early 2015."

Adapted from press release by Katie Woodward

Read the article online at: https://www.lngindustry.com/liquefaction/08042014/endesa_buys_more_lng_403/