Page 9 - GLNG Week 25 2022
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GLNG AMERICAS GLNG
Cheniere signs LNG supply
agreement with Equinor
SUPPLY THE US’ leading LNG producer, Cheniere supplier of natural gas in Europe, trailing only
Energy, said on June 9 that its subsidiary Russia’s Gazprom.
Cheniere Marketing had signed an LNG sales Since sanctions were imposed on Russia over
and purchase agreement (SPA) with Norway’s its invasion of Ukraine, US LNG firms have
Equinor. been exporting record volumes to the European
Under the terms of the SPA, Cheniere will sell Union. As a result, the US is predicted to be the
about 1.75mn tonnes per year (tpy) of LNG to world’s largest LNG exporter this year.
Equinor on a free-on-board (FOB) basis over a Data from Refinitiv Eikon show that the US
15-year period. Deliveries will begin in the sec- exported 7.29mn tonnes of LNG in May, mark-
ond half of 2026 and will be ramped up to reach ing the second highest monthly total on record.
the full 1.75mn tpy by the second half of 2027. Higher sales to Europe and South America were
Cheniere noted that half of the volume, or largely responsible for the increase.
about 0.9mn tpy, was dependent on it making a May’s total represented an expansion from
final investment decision (FID) on its Stage III 6.93mn tonnes in April and also a 12% rise year
expansion at the Corpus Christi LNG export on year. The US’ highest ever monthly LNG
terminal in Texas. exports amounted to 7.67mn tonnes, which it
For Equinor, the deal allows the firm to achieved in March.
gain access to additional gas supplies in a tight Houston-headquartered Cheniere leads the
commodity market where demand for LNG is US’ liquefaction capacity with a combined 45mn
soaring. The company said the SPA would help tpy in operation across its Corpus Christi and
it grow its ambitions to become a global gas Sabine Pass export terminals.
supplier. Already, Equinor is the second largest
Week 25 24•June•2022 www. NEWSBASE .com P9
