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  • Cheniere and Iberdrola Sign 20-Year LNG Sale and Purchase Agreement
    édité le 30/05/2014 - Plus de news de "Cheniere Energy" - Voir la fiche entreprise de "Cheniere Energy"


Cheniere and Iberdrola Sign 20-Year LNG Sale and Purchase Agreement
Cheniere Energy, Inc. announced that its subsidiary, Corpus Christi Liquefaction, LLC ("Corpus Christi Liquefaction"), has entered into a liquefied natural gas ("LNG") sale and purchase agreement ("SPA") with Iberdrola, S.A. ("Iberdrola") under which Iberdrola has agreed to purchase approximately 0.4 million tonnes per annum ("mtpa") of LNG upon the commencement of operations of Train 1 of the LNG export facility being developed near Corpus Christi, Texas (the "Corpus Christi Liquefaction Project"), and increasing to approximately 0.8 mtpa of LNG upon the commencement of operations of Train 2. 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, Iberdrola will purchase LNG on a free on board ("FOB") basis for a purchase price indexed to the monthly Henry Hub price plus a fixed component. LNG will be loaded onto Iberdrola's vessels. The term of the SPA will extend for twenty years beyond the date of first commercial delivery of the second train of the Corpus Christi Liquefaction Project, with an extension option of up to ten years. Deliveries from Train 2 are expected to occur in 2019.

"Iberdrola is the first foundation customer on Train 2 of our Corpus Christi Liquefaction Project being developed in Texas. Iberdrola is a leading European power generation and distribution company with operations located in several countries around the Atlantic Basin," said Charif Souki, Chairman and CEO. "To date we have entered into SPAs aggregating approximately 3.8 mtpa of LNG volumes. We are in advanced discussions with other counterparties and are working towards finalizing additional agreements. We expect to complete all necessary steps to reach a final investment decision and begin construction by early 2015."

The SPA is subject to certain conditions precedent, including but not limited to Corpus Christi Liquefaction receiving regulatory approvals, securing necessary financing arrangements and making a final investment decision to construct Train 2 of the Corpus Christi Liquefaction Project (the "Corpus Christi FID").

About Iberdrola

Iberdrola is a Spanish energy company which generates, distributes, trades and markets electricity and natural gas. The company is listed on the Bolsa de Madrid and is part of the IBEX 35 index. It employs approximately 28,200 people. It is Spain's largest power company by installed capacity with total power generation capacity of 45,000 MW worldwide. Iberdrola has access to regasification capacity in Spain, UK and the US.

About Cheniere Energy

Cheniere Energy, Inc.("Cheniere") (NYSE MKT: LNG) 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 LNG trains, each of which will have a design production capacity of approximately 4.5 mtpa ("Sabine Pass Liquefaction Project"). Construction has begun on LNG Trains 1 through 4 at the Sabine Pass Liquefaction Project. Cheniere has also initiated a project to develop liquefaction facilities near Corpus Christi, Texas. The Corpus Christi Liquefaction Project is being designed and permitted for up to three LNG trains, with aggregate design production capacity of up to 13.5 mtpa of LNG and which would include three LNG storage tanks with capacity of 10.1 Bcfe and two LNG carrier docks. Commencement of construction for the Corpus Christi Liquefaction Project is subject, but not limited, to obtaining regulatory approvals, entering into long-term customer contracts sufficient to underpin financing of the project, obtaining financing, and Cheniere making a final investment decision. We believe LNG exports from the Corpus Christi Liquefaction Project could commence as early as 2018.

Se the site of Corpus Christi LNG Terminal


Origine : Communiqué Cheniere Energy

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