Cheniere and PTT Sign Long-Term LNG Sale and Purchase Agreement

Source: www.gulfoilandgas.com 7/26/2022, Location: Asia

Cheniere Energy, Inc. announced that its wholly-owned subsidiary, Corpus Christi Liquefaction, LLC (“CCL”) has entered into a long-term liquefied natural gas (“LNG”) sale and purchase agreement (“SPA”) with PTT Global LNG Company Limited (“PTTGL”), a wholly-owned subsidiary of PTT Public Company Limited (“PTT”), Thailand’s largest state-owned, multinational energy company.

Under the SPA, PTTGL has agreed to purchase 1.0 million tonnes per annum (“mtpa”) of LNG from CCL for twenty years beginning in 2026. The SPA calls for a combination of free-on-board (FOB) and delivered ex-ship (DES) deliveries. This customized structure represents a further evolution in Cheniere’s commercial offerings tailored to the specific needs of LNG customers around the world. The purchase price for LNG under the SPA is indexed to the Henry Hub price, plus a fixed liquefaction fee.

“We are pleased to enter into this 20-year SPA with a subsidiary of PTT, the state-owned oil and gas company of Thailand which developed, owns and operates Thailand’s first LNG import terminal, and is an energy leader in a key, fast-growing Southeast Asian market,” said Jack Fusco, Cheniere’s President and Chief Executive Officer. “This is the first direct LNG contract from a US LNG producer for PTTGL, and this agreement not only reflects the critical need for long-term, reliable LNG supply across the globe, but also the important role LNG has to play in powering growing economies for decades to come.”

“Our new vision Powering Life with Future Energy and Beyond reflects the strategic direction and business transition toward clean energy as well as new businesses. LNG or gas is a major transition fuel which supports both energy security and sustainability. Our ambition is to move forward with the future energy while ensuring energy security. We actively engage in the LNG business and target to be a Global LNG Player by managing an LNG portfolio of 9 mtpa by 2030. By the end of this year, PTT’s LNG receiving terminals will be able to accommodate regasification capacity up to 19 million tons per year with our new terminal,” said Auttapol Rerkpiboon, PTT’s President and Chief Executive Officer.


United Arab Emirates >>  9/25/2022 - RWE has reached agreements with two companies from Abu Dhabi: With Abu Dhabi National Oil Company (ADNOC) on LNG supplies and with Masdar, Abu Dhabi’s...
Poland >>  9/23/2022 - Today Equinor announced a long-term gas sales agreement with Poland’s PGNiG. The agreement is for 10 years with a volume of around 2.4 billion cubic m...

United States >>  9/21/2022 - Stabilis Solutions, Inc., has received authorization from the U.S. Department of Energy ("DOE") to export domestically produced liquefied natural gas ...
Ireland >>  9/20/2022 - Predator Oil & Gas Holdings, the Jersey based Oil and Gas Company with near-term gas operations focussed on Morocco, notes the announcement yesterday ...

Australia >>  9/15/2022 - Central Petroleum Ltd. (Central) welcomes today’s announcements by the Prime Minister to bolster east coast energy security, with a focus on enhanced...
Australia >>  9/15/2022 - - Cue signs a new Gas Supply Agreement with Shell Energy Australia for supply of gas from the Mereenie field
- One year term from 1 January 2025...





Gulf Oil and Gas
Copyright © 2021 Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.