China’s Foran Energy inks preliminary LNG deal with Cheniere

Chinese independent gas firm Foran Energy said it has signed a heads of agreement to buy LNG from US exporter Cheniere.

Under the deal, Foran Energy would buy 26 cargoes from Cheniere over the 2021-2025 period, it said in a statement.

Furthermore, the prices would be linked to the US Henry Hub benchmark.

This agreement is not final. The duo agreed to negotiate and finalize the deal by the year-end, according to Foran Energy.

This is not the first deal for the Chinese indpendent as it signed a supply accord with UK-based energy giant BP earlier this year.

Under that agreement, BP will be supplying up to 600,000 tonnes of LNG per year to China’s Guangdong province.

BP and Foran are both shareholders in China’s first LNG import terminal, Guangdong Dapeng.

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