HOUSTON, Oct. 28, 2015 /PRNewswire/ — Cheniere Energy, Inc. (“Cheniere”) (NYSE MKT: LNG) announced today that its wholly owned subsidiary, Cheniere Marketing International LLP (“Cheniere Marketing”) has entered into a 5-year Sale and Purchase Agreement (“SPA”) with ENGIE S.A. for the delivery of liquefied natural gas (“LNG”) cargoes on an ex-ship basis (“DES”) primarily to the Montoir de Bretagne LNG regasification terminal in France. The SPA covers the delivery of up to 12 cargoes per year, or up to approximately 222 million MMBtus in total, from 2018 to 2023. Cheniere Marketing will sell the volumes at contract prices linked to Northern European indices.
Volumes will be sourced from Cheniere Marketing’s global LNG supply portfolio, which includes rights under separate SPAs with Sabine Pass Liquefaction, LLC and Corpus Christi Liquefaction, LLC to purchase any LNG produced from the Sabine Pass andCorpus Christi liquefaction projects in excess of that required for other customers. On a combined basis, Cheniere Marketing’s LNG portfolio is expected to have approximately 9 million tonnes per annum (“mtpa”) of LNG available from the nine liquefaction trains being developed at Sabine Pass and Corpus Christi.
“This SPA with ENGIE furthers our strategy of supplying LNG to European markets and diversifies our marketing portfolio with sales tied to Northern European price indices. Deliveries are expected to be made to the Montoir de Bretagne LNG terminal or to alternative delivery points as determined by our customer,” said Charif Souki, Chairman and CEO of Cheniere.
About Cheniere Energy, Inc.
Cheniere Energy, Inc. is a Houston-based energy company primarily engaged in LNG-related businesses and owns and operates the Sabine Pass LNG terminal and Creole Trail Pipeline in Louisiana. Cheniere is pursuing related business opportunities both upstream and downstream of the Sabine Pass LNG terminal. Through its subsidiary, Cheniere Energy Partners, L.P., Cheniere is developing a liquefaction project at the Sabine Pass LNG terminal adjacent to the existing regasification facilities for up to six Trains, each of which is expected to have a nominal production capacity of approximately 4.5 mtpa of LNG. Construction has begun on Trains 1 through 5 of the Sabine Pass Liquefaction Project. Cheniere is also developing liquefaction facilities near Corpus Christi, Texas. The CCL Project is being designed for up to five Trains, with expected aggregate nominal production capacity of approximately 22.5 mtpa of LNG, four LNG storage tanks with capacity of approximately 13.5 Bcfe and two LNG carrier docks. Construction has begun on the first two Trains of the CCL Project. Cheniere has agreed in principle to partner with Parallax Enterprises, LLC for the development of up to 11 mtpa of LNG production capacity through Parallax’s two mid-scale natural gas liquefaction projects, Live Oak LNG and Louisiana LNG. For additional information, please refer to the Cheniere website at www.cheniere.com and Quarterly Report on Form 10-Q for the quarter ended June 30, 2015, filed with the Securities and Exchange Commission.