Cheniere Energy Inc (LNG)

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Cheniere Marketing Signs Additional LNG Sales Agreement With EDF
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Cheniere Energy, Inc. 1 hour ago






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HOUSTON, Sept. 21, 2015 /PRNewswire/ -- Cheniere Energy, Inc. ("Cheniere") (NYSE MKT: LNG) announced today that its wholly owned subsidiary, Cheniere Marketing International LLP ("Cheniere Marketing") has entered into another sales arrangement with Électricité de France, S.A. ("EDF") for the delivery of liquefied natural gas ("LNG") cargoes on an ex-ship basis ("DES") from the Sabine Pass LNG terminal ("Sabine Pass Liquefaction Project"). The sales arrangement covers the delivery of up to 24 cargoes, or up to approximately 89 million MMBtus total, from 2017 through 2018. As in the previously announced sales arrangements, the sales price for the LNG cargoes is linked to the Dutch Title Transfer index (TTF), a natural gas pricing index in continental Europe. With this latest agreement, Cheniere Marketing has executed agreements for the sale of up to a total of 92 cargoes, or up to approximately 340 million MMBtus, to buyers in Europe and Asia through 2018.

Volumes will be sourced from Cheniere Marketing's LNG supply portfolio, which includes rights under a sale and purchase agreement ("SPA") with Sabine Pass Liquefaction, LLC to purchase any LNG produced from the Sabine Pass Liquefaction Project in excess of that required for other customers. Cheniere Marketing has a similar SPA with Corpus Christi Liquefaction, LLC for LNG produced from Cheniere's Corpus Christi liquefaction project ("CCL Project"). On a combined basis, Cheniere Marketing's LNG portfolio is expected to have approximately 9 million tonnes per annum ("mtpa") of LNG available from Trains 1 through 6 of the Sabine Pass Liquefaction Project and Trains 1 through 3 of the CCL Project.