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Cheniere and EDF sign 20-year LNG sale and purchase agreement


Published Jul 21, 2014
Cheniere Energy, Inc.

Cheniere Energy’s subsidiary, Corpus Christi Liquefaction, LLC, has entered into a liquefied natural gas (LNG) sale and purchase agreement (SPA) with Électricité de France, S.A. (EDF) under which EDF has agreed to purchase approximately 0.38 million tonnes per annum (mtpa) of LNG upon the commencement of operations of Train 2 of the LNG export facility being developed near Corpus Christi, Texas, and increasing to approximately 0.77 mtpa of LNG upon the commencement of operations of Train 3.

The Corpus Christi Liquefaction Project is being designed and permitted for up to three trains, with aggregate design production capacity of 13.5 mtpa of LNG.

Under the SPA, EDF will purchase LNG on a free on board basis for a purchase price indexed to the monthly Henry Hub price plus a fixed component. LNG will be loaded onto EDF's vessels. The term of the SPA will extend for twenty years beyond the date of first commercial delivery of the third train of the Corpus Christi Liquefaction Project, with an extension option of up to ten years. Deliveries from Train 3 are expected to occur as early as 2019.

Tags: Cheniere Energy




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