Cheniere Energy, Inc. (“Cheniere” or the “Company”) (NYSE
American: LNG) announced today that its subsidiary, Cheniere
Marketing, LLC (“Cheniere Marketing”), has entered into a liquefied
natural gas (“LNG”) sale and purchase agreement (“SPA”) with ENN
LNG (Singapore) Pte Ltd (“ENN LNG”), a wholly-owned subsidiary of
ENN Natural Gas Co., Ltd. (“ENN Natural Gas”).
Under the SPA, ENN LNG has agreed to purchase approximately 0.9
million tonnes per annum of LNG from Cheniere Marketing on a
free-on-board basis for a term of approximately 13 years beginning
in July 2022. The purchase price for LNG under the SPA is indexed
to the Henry Hub price, plus a fixed liquefaction fee. ENN Natural
Gas is acting as guarantor of the SPA.
“We are pleased to announce this long-term LNG contract with
ENN, a major player in China’s rapidly growing natural gas market,
and we look forward to a successful, long-term relationship with
ENN as a customer,” said Jack Fusco, Cheniere’s President and Chief
Executive Officer. “This SPA underscores the strength of the global
LNG market today, particularly in China, and highlights Cheniere’s
role as a leading global LNG supplier, tailoring solutions to help
meet the long-term energy needs and environmental goals of our
customers. The SPA also further advances Cheniere’s commercial
momentum and marks another milestone in our efforts to contract our
LNG capacity on a long-term basis in anticipation of an FID of
Corpus Christi Stage 3, which we expect will occur next year.”
Wang Yusuo, Chairman of the Board of ENN Natural Gas said,
“China is making great efforts to achieve the goal of peak carbon
emissions and carbon neutrality, boosting the reform of the natural
gas market, and accelerating the structural adjustment of energy
consumption. As one of the world’s leading LNG suppliers, Cheniere
has great advantages on resource production and supply capacity,
which is highly compatible with the fast-growing natural gas market
in China. ENN is accelerating the usage of digital technology to
build a modern energy system, and to promote intelligent upgrading
of the natural gas industry. It is expected that the two parties
will seize the opportunity of this cooperation to establish a
strategic relationship, to provide clients with high quality
resources and services, and to make positive efforts to the
realization of peak carbon emissions and carbon neutrality in
China.”
About Cheniere
Cheniere Energy, Inc. is the leading producer and exporter of
liquefied natural gas (LNG) in the United States, reliably
providing a clean, secure, and affordable solution to the growing
global need for natural gas. Cheniere is a full-service LNG
provider, with capabilities that include gas procurement and
transportation, liquefaction, vessel chartering, and LNG delivery.
Cheniere has one of the largest liquefaction platforms in the
world, consisting of the Sabine Pass and Corpus Christi
liquefaction facilities on the U.S. Gulf Coast, with expected total
production capacity of approximately 45 million tonnes per annum of
LNG operating or under construction. Cheniere is also pursuing
liquefaction expansion opportunities and other projects along the
LNG value chain. Cheniere is headquartered in Houston, Texas, and
has additional offices in London, Singapore, Beijing, Tokyo, and
Washington, D.C.
For additional information, please refer to the Cheniere website
at www.cheniere.com and Quarterly Report on Form 10-Q for the
quarter ended June 30, 2021, filed with the Securities and Exchange
Commission.
About ENN Natural Gas
As one of the largest private energy companies in China, ENN
Natural Gas’ business layout covers the entire natural gas industry
including distribution, trade, storage & transportation,
production and construction. As of 30 June 2021, through its
subsidiary, ENN Energy Holdings Limited, one of the largest natural
gas distribution companies in China, ENN Natural Gas owns 239
city-gas projects in China, with a connectable population of 117
million. ENN Natural Gas operates the Zhoushan LNG regasification
facility in Zhejiang Province, China. During 1H 2021, ENN Natural
Gas’s total natural gas sales volume was 17.5 bcm, accounting for
9.6% of China’s total consumption.
Forward-Looking Statements
This press release contains certain statements that may include
“forward-looking statements” within the meanings of Section 27A of
the Securities Act of 1933 and Section 21E of the Securities
Exchange Act of 1934. All statements, other than statements of
historical or present facts or conditions, included herein are
“forward-looking statements.” Included among “forward-looking
statements” are, among other things, (i) statements regarding
Cheniere’s financial and operational guidance, business strategy,
plans and objectives, including the development, construction and
operation of liquefaction facilities, (ii) statements regarding
expectations regarding regulatory authorizations and approvals,
(iii) statements expressing beliefs and expectations regarding the
development of Cheniere’s LNG terminal and pipeline businesses,
including liquefaction facilities, (iv) statements regarding the
business operations and prospects of third parties, (v) statements
regarding potential financing arrangements, (vi) statements
regarding future discussions and entry into contracts, (vii)
statements relating to Cheniere’s capital deployment, including
intent, ability, extent, and timing of capital expenditures, debt
repayment, dividends, and share repurchases, and (viii) statements
regarding the COVID-19 pandemic and its impact on our business and
operating results. Although Cheniere believes that the expectations
reflected in these forward-looking statements are reasonable, they
do involve assumptions, risks and uncertainties, and these
expectations may prove to be incorrect. Cheniere’s actual results
could differ materially from those anticipated in these
forward-looking statements as a result of a variety of factors,
including those discussed in Cheniere’s periodic reports that are
filed with and available from the Securities and Exchange
Commission. You should not place undue reliance on these
forward-looking statements, which speak only as of the date of this
press release. Other than as required under the securities laws,
Cheniere does not assume a duty to update these forward-looking
statements.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20211011005146/en/
Cheniere Energy, Inc. Investors
Randy Bhatia, 713-375-5479
Media Relations Eben
Burnham-Snyder, 713-375-5764
Cheniere Energy (AMEX:LNG)
Historical Stock Chart
From Jun 2024 to Jul 2024
Cheniere Energy (AMEX:LNG)
Historical Stock Chart
From Jul 2023 to Jul 2024