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Cheniere and Vitol signed 15-Year LNG sale & purchase deal

Cheniere entered into a LNG sale and purchase agreement with Vitol.

Cheniere and Vitol signed 15-Year LNG sale & purchase deal Cheniere and Vitol signed 15-Year LNG sale & purchase deal


Houston, September 17 - Neftegaz.RU. Cheniere Energy announced today that the company has entered into a LNG sale and purchase agreement with Vitol.

 

Under the SPA, Vitol has agreed to purchase approximately 0.7 million tonnes per annum of LNG from Cheniere Marketing on a free on board basis for a term of approximately 15 years beginning in 2018. The purchase price for LNG is indexed to the monthly Henry Hub price, plus a fee.

 

«We are pleased to announce this long-term SPA with Vitol, one of the fastest growing players in the global LNG market,» said Jack Fusco, Cheniere’s CEO. «This agreement continues Cheniere’s commercial momentum and supports our growth plans, while demonstrating the value LNG buyers place on Cheniere’s unique ability to offer flexible solutions tailored to the needs of LNG customers worldwide.»

 

Russell Hardy, CEO at Vitol, said, «We are delighted to be working with Cheniere, a pioneer in U.S. liquefaction. Vitol is committed to the long-term development of the LNG market. We believe that LNG has an important role to play in the future energy mix and that its evolution will require a more flexible and tradeable LNG market.»

 

Source : Neftegaz.RU