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News Breaks
April 7, 2014
10:16 EDTLNGCheniere, Endesa sign 20-year LNG sale, purchase agreement
Cheniere Energy announced that its subsidiary, Corpus Christi Liquefaction, has entered into a liquefied natural gas sale and purchase agreement with Endesa under which Endesa has agreed to purchase approximately 0.75M tonnes per annum of LNG upon the commencement of operations from the LNG export facility being developed near Corpus Christi, Texas. The SPA is in addition to the previously signed SPA under which Endesa will purchase approximately 1.5 mtpa of LNG, bringing the total quantity of LNG sold to Endesa under the two agreements to approximately 2.25 mtpa. 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, Endesa will purchase LNG on an FOB basis for a purchase price indexed to the monthly Henry Hub price plus a fixed component. LNG will be loaded onto Endesa's vessels. The SPA has a term of twenty years commencing upon the date of first commercial delivery and an extension option of up to ten years. Deliveries are expected to occur as early as FY18.
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August 26, 2014
12:51 EDTLNGStocks with increasing options volume
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