Cheniere Energy has announced that its subsidiary, Corpus Christi Liquefaction (CCL), has agreed with Engie SA (Engie) to amend the 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 tpy 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.”
Read the article online at: https://www.lngindustry.com/liquid-natural-gas/16032022/cheniere-and-engie-extend-agreement/