Cheniere and PetroChina Sign Long-Term LNG Sale and Purchase Agreement
20 Juillet 2022 - 2:00PM
Business Wire
Cheniere Energy, Inc. (“Cheniere” or the “Company”) (NYSE
American: LNG) announced today that its wholly-owned subsidiary,
Cheniere Marketing, LLC (“Cheniere Marketing”), has entered into a
long-term liquefied natural gas (“LNG”) sale and purchase agreement
(“SPA”) with a subsidiary of PetroChina Company Limited
(“PetroChina”).
Under the SPA, PetroChina subsidiary PetroChina International
Company Limited (“PCI”) has agreed to purchase up to approximately
1.8 million tonnes per annum (“mtpa”) of LNG from Cheniere
Marketing on a free-on-board basis. Deliveries under the SPA will
begin in 2026, reach the full 1.8 mtpa in 2028, and continue
through 2050. The purchase price for LNG under the SPA is indexed
to the Henry Hub price, plus a fixed liquefaction fee. Half of the
total volume, or approximately 0.9 mtpa, is subject to Cheniere
making a positive final investment decision to construct additional
liquefaction capacity at the Corpus Christi LNG Terminal beyond the
seven-train Corpus Christi Stage 3 Project.
“We are pleased to build upon our existing and successful
long-term relationship with PetroChina and sign our first LNG
contract that crosses over into the second half of this century,”
said Jack Fusco, Cheniere’s President and Chief Executive Officer.
“PetroChina is a leading energy company in one of the largest and
fastest growing markets for LNG. This SPA increases Cheniere’s
long-term sales to PetroChina to approximately 3 mtpa, and we are
proud to support China’s progress toward a lower-carbon future with
our reliable, cleaner burning LNG.”
Commenting on the agreement, Mr. Tian Jinghui, Executive
Chairman of PCI stated “Natural gas continues to play a vital role
in enabling energy transition in China. We are pleased to further
expand our cooperation with Cheniere in delivering LNG, one of the
cleanest fuel choices to our millions of customers for many years
to come.”
About Cheniere
Cheniere Energy, Inc. is the leading producer and exporter of
liquefied natural gas (LNG) in the United States, reliably
providing a clean, secure, and affordable solution to the growing
global need for natural gas. Cheniere is a full-service LNG
provider, with capabilities that include gas procurement and
transportation, liquefaction, vessel chartering, 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 U.S. Gulf Coast, with total
production capacity of approximately 45 mtpa of LNG in operation
and an additional 10+ mtpa of expected production capacity under
construction. Cheniere is also pursuing liquefaction expansion
opportunities and other projects along the LNG value chain.
Cheniere is headquartered in Houston, Texas, and has additional
offices in London, Singapore, Beijing, Tokyo, and Washington,
D.C.
For additional information, please refer to 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.
About PetroChina
PetroChina Company Limited is a joint stock limited company
incorporated on November 5, 1999, upon the restructuring of China
National Petroleum Corporation ("CNPC"). The American Depositary
Shares ("ADS"), H shares and A shares of the Company were listed on
the New York Stock Exchange, the Stock Exchange of Hong Kong
Limited ("HKSE" or "Hong Kong Stock Exchange") and Shanghai Stock
Exchange on April 6, 2000, April 7, 2000 and November 5, 2007,
respectively. PetroChina is one of the major oil and gas producers
and distributors in China, as well as a significant player in the
global oil and gas industry. PetroChina is one of the largest
natural gas sales enterprises in China and owns two LNG terminals
in Jiangsu and Tangshan, with a loading and unloading capacity of
13 million tons. PetroChina is engaged in a wide range of
activities related to oil, gas and new energy, and sustainably
provide energy and oil products for economic and social
development.
Forward-Looking Statements
This press release contains certain statements that may include
“forward-looking statements” within the meanings 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 or present facts or conditions, included herein are
“forward-looking statements.” Included among “forward-looking
statements” are, among other things, (i) statements regarding
Cheniere’s financial and operational guidance, business strategy,
plans and objectives, including the development, construction and
operation of liquefaction facilities, (ii) statements regarding
regulatory authorization and approval expectations, (iii)
statements expressing beliefs and expectations regarding the
development of Cheniere’s LNG terminal and pipeline businesses,
including liquefaction facilities, (iv) statements regarding the
business operations and prospects of third-parties, (v) statements
regarding potential financing arrangements, (vi) statements
regarding future discussions and entry into contracts, (vii)
statements relating to Cheniere’s capital deployment, including
intent, ability, extent, and timing of capital expenditures, debt
repayment, dividends, and share repurchases, and (viii) statements
regarding the COVID-19 pandemic and its impact on our business and
operating results. Although Cheniere believes that the expectations
reflected in these forward-looking statements are reasonable, they
do involve assumptions, risks and uncertainties, and these
expectations may prove to be incorrect. Cheniere’s actual results
could differ materially from those anticipated in these
forward-looking statements as a result of 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. Other than as required under the securities laws,
Cheniere does not assume a duty to update these forward-looking
statements.
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Cheniere Energy, Inc. Investors
Randy Bhatia, 713-375-5479 Frances Smith, 713-375-5753
Media Relations Eben
Burnham-Snyder, 713-375-5764 Phil West, 713-375-5586
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