HOUSTON–(BUSINESS WIRE)–Cheniere Energy, Inc. (“Cheniere” or the “Company”) (NYSE American: LNG) today announced that its subsidiary, Cheniere Marketing, LLC (“Cheniere Marketing”), has entered into a gas contract liquefied natural gas (“LNG”) sale and purchase agreement (“SPA”) with Equinor ASA (“Equinor”).
Under the SPA, Equinor has agreed to purchase approximately 1.75 million tonnes per annum (“mtpa”) of LNG from Cheniere Marketing on a free on board basis for a term of approximately 15 years. Deliveries under the SPA will begin in the second half of 2026 and will reach 1.75 mtpy in the second half of 2027. Half of the volume, or approximately 0.9 mtpy, is subject to Cheniere making a final investment decision. positive (“FID”). ) to build additional liquefaction capacity at the Corpus Christi LNG terminal beyond the seven-train Corpus Christi Phase III project.
“Equinor is one of Europe’s leading energy companies, and we are delighted to enter into a long-term relationship with another strategic customer who shares our ambitions for a sustainable future,” said Jack Fusco, President and Chief Cheniere direction. “This SPA further reinforces Cheniere’s leadership in providing the flexible, reliable and cleaner long-term LNG supply sought by our customers around the world, focused on energy security and environmental priorities. The SPA also reflects the urgency of the demand for investment in additional LNG capacity, not only for the Corpus Christi Stage III project, which is approaching FID, but also for capacity beyond the project’s initial seven trains.
Cheniere Energy, Inc. is the leading producer and exporter of liquefied natural gas (LNG) in the United States, reliably providing a clean, safe and affordable solution to the growing global need for natural gas. Cheniere is a full-service LNG supplier, with capabilities that include gas supply and transportation, liquefaction, vessel charter and LNG delivery. Cheniere has one of the largest liquefaction platforms in the world, consisting of the Sabine Pass and Corpus Christi liquefaction facilities on the US Gulf Coast, with a total production capacity of approximately 45 mtpa of LNG in operation. Cheniere is also pursuing opportunities for liquefaction expansion and other projects along the LNG value chain. Cheniere is headquartered in Houston, Texas, with additional offices in London, Singapore, Beijing, Tokyo, and Washington, D.C.
For more information, please visit the Cheniere website at www.cheniere.com and Quarterly Report on Form 10-Q for the quarter ended March 31, 2022, filed with the Securities and Exchange Commission.
Equinor is a global energy company committed to creating long-term value in a low-carbon future. Equinor’s goal is to turn natural resources into energy for people and progress for society. Equinor’s project portfolio encompasses oil and gas, renewable energy and low carbon solutions, with the ambition to become a net zero energy company by 2050. Equinor is the second largest exporter of pipeline to Europe and the only large-scale LNG operator in Europe. factory in Hammerfest, Norway. Based in Stavanger (Norway), Equinor is the leading operator on the Norwegian continental shelf, present in around thirty countries around the world.
This press release contains certain statements which may include “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. All statements, other than statements of historical fact or statements or conditions, included herein are “forward-looking statements”. “Forward-looking statements” include, among others, (i) statements regarding the financial and operating directions, business strategy, plans and objectives of Cheniere, including the development, construction and operation of liquefaction, (ii) statements regarding regulatory clearance and approval expectations, (iii) statements expressing opinions and expectations regarding the development of the activities of the LNG terminal and the Chenière pipelines, including the liquefaction facilities , (iv) statements regarding third party business operations and prospects, (v) statements regarding potential financing arrangements, (vi) statements regarding future discussions and entering into contracts, (vii) statements relating to the Cheniere’s capital deployment, including intent, capacity, scope and timing of capital expenditures ions, debt repayment, dividends and share buybacks, and (viii) statements regarding the COVID-19 pandemic and its impact on our business and operations results. Although Cheniere believes that the expectations reflected in these forward-looking statements are reasonable, they involve assumptions, risks and uncertainties, and such expectations may prove to be incorrect. Cheniere’s actual results could differ materially from those anticipated in these forward-looking statements due to a variety of factors, including those discussed in Cheniere’s periodic reports that are filed with and available from the Securities and Exchange Commission. You should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Except as required by securities laws, Cheniere assumes no obligation to update these forward-looking statements.