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ENGIE enters 5-year LNG sales and purchase agreement with Cheniere

LNG Industry,

ENGIE has announced that it has entered a 5-year sales and purchase agreement with Cheniere, in which it will buy up to 12 LNG cargoes per year based on Northern European pricing indexes. The cargoes will be delivered from the Sabine Pass and Corpus Christi LNG terminals to the Montoir-de-Bretagne regasification terminal in France.

The Executive Vice President in control of the Global Gas and LNG business of ENGIE, Pierre Chareyre, said: “ENGIE is committed to guarantee the supply of its European customers with clean and reliable energy. Importing US LNG will participate to strengthen the security of supply of Europe. Besides, in the context of the energy transition, natural gas is the perfect partner for renewable energies, since it is flexible and abundant.”

Chareyre was appointed to his position at ENGIE in July 2015, alongside a number of other new appointments, which can be viewed here.

The imports will further diversify Europe’s current natural gas supply, and will begin in 2018 and last for a 5-year period. Furthermore, the LNG is capable of being imported to other European terminals, thus further enhancing the flexibility of the Group’s portfolio management.

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