Cheniere Energy, Inc. (“Cheniere” or the “Company”) (NYSE
American: LNG) announced today 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.
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 PTT
PTT is Thailand's fully integrated energy company which operates
businesses consisting of natural gas, gas transmission,
international trading, new business and infrastructure business;
the rest are invested through subsidiaries, joint arrangements and
associates, namely exploration and production, liquefied natural
gas, petrochemical and refining, oil and retail, power and
utilities, coal, and service businesses.
About PTTGL
PTTGL is a wholly-owned subsidiary of PTT Public Company Limited
and operates in LNG business, established in 2017. The objective is
to explore oversea investment opportunities in LNG value chain from
LNG liquefaction plant to receiving terminal as well as LNG
procurement and marketing.
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
Cheniere Energy (AMEX:LNG)
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