Page 8 - GLNG Week 29 2022
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GLNG ASIA GLNG
Cheniere signs long-term LNG
deal with PetroChina
PROJECTS THE US’ largest LNG exporter this week said of a $8bn expansion of the plant and said that
it had signed an agreement with a subsidiary of more expansions could be forthcoming. Capac-
state-owned PetroChina for the supply of gas ity at Corpus Christi is anticipated to rise to
until 2050, the firm’s longest such deal. 25mn tpy following the latest addition.
In a press release on July 20, Cheniere said President and CEO Jack Fusco said the SPA
that the sale and purchase agreement (SPA) cov- “increases Cheniere’s long-term sales to Pet-
ered flows of up to 1.8mn tonnes per year (tpy) roChina to approximately 3mn tpy, and we are
of LNG, delivered by Cheniere Marketing on a proud to support China’s progress toward a low-
free-on-board (FOB) basis to Petrochina Inter- er-carbon future with our reliable, cleaner burn-
national (PCI). ing LNG.”
Deliveries will begin in 2026, reaching the Meanwhile, PCI executive chairman Tian Jin-
1.8mn tpy level in 2028 and run at that rate until ghui noted that his company was “pleased to fur-
2050 with the LNG price indexed to Henry Hub ther expand our co-operation with Cheniere in
plus a fixed fee for liquefaction. delivering LNG, one of the cleanest fuel choices
The US firm said that “half of the total vol- to our millions of customers for many years to
ume, or approximately 0.9mn tpy, is subject to come.”
Cheniere making a positive final investment Chinese firms have been snapping up
decision [FID] to construct additional lique- increased LNG exporters from the world’s largest
faction capacity at the Corpus Christi LNG exporters, illustrating the country’s pragmatism
Terminal beyond the [existing and planned] in its approach to energy supply security as new
seven-train Corpus Christi Stage 3 Project.” liquefaction capacity comes on stream through-
This follows the company’s approval in June out the world.
P8 www. NEWSBASE .com Week 29 22•July•2022
