According to the statement, CPC has agreed to purchase approximately 2 million tpy of LNG from Cheniere Marketing on a delivered ex-ship basis for a 25-year term. The contract will commence in 2021. The purchase price for LNG is indexed to the monthly Henry Hub price, plus a fee.
The President and CEO of Cheniere, Jack Fusco, said: “We are pleased to announce this long-term SPA with CPC, one of the LNG market’s most experienced and well-respected companies. The SPA follows a Heads of Agreement we signed with CPC in June, which was the result of long-term discussions and development of a commercial relationship with CPC over several years.
“This SPA demonstrates Cheniere’s growing capabilities to deliver tailored solutions to meet the energy needs of customers worldwide, and further reinforces our position as a premier global LNG provider.”
Read the article online at: https://www.lngindustry.com/liquid-natural-gas/13082018/cheniere-signs-25-year-lng-spa-with-cpc/