Cheniere pens long-term LNG supply deal with Glencore

US LNG exporter Cheniere has signed a long-term deal to supply liquefied natural gas to a unit of Switzerland-based trader Glencore.

Under the sales and purchase deal, Cheniere’s marketing unit would supply about 0.8 million tonnes per annum of LNG to Glencore on a free-on-board basis for a term of about 13 years beginning in April 2023.

Cheniere said in a statement on Monday the Henry Hub-linked LNG deal would include a fixed liquefaction fee.

This new contract comes just two weeks after Cheniere signed a deal with a unit of Chinese independent gas distributor ENN.

“This SPA further builds upon Cheniere’s commercial momentum, marking another important milestone in contracting our LNG capacity ahead of an FID of Corpus Christi Stage 3, which we expect to occur next year,” Cheniere’s chief executive Jack Fusco, said.

The Corpus Christi project would include up to seven mid-scale liquefaction trains with a total expected nominal production capacity of about 10 mtpa. Also, it has received all necessary regulatory approvals.

Located in Texas, the Corpus Christi liquefaction plant currently consists of three operational trains with each having a capacity of about 5 mtpa.

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