EDF Orders 24 More LNG Cargoes from Cheniere
Houston-based energy company Cheniere Energy has entered into the second sales arrangement with Électricité de France (EDF) in the last two months for the delivery of additional 24 liquefied natural gas (LNG) cargoes on an ex-ship basis from the Sabine Pass LNG terminal.
Cheniere Marketing International, a wholly owned subsidiary of Cheniere Energy, will deliver around 89 million MMBtus of LNG to EDF throughout 2017 and 2018, on top of approximately 100 million MMBtus, or 26 cargoes, the companies had already agreed upon on August 12.
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 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 for LNG produced from Cheniere’s Corpus Christi liquefaction project.
On a combined basis, Cheniere Marketing’s LNG portfolio is expected to have approximately 9 million tonnes per annum of LNG available from Trains 1 through 6 of the Sabine Pass Liquefaction Project and Trains 1 through 3 of the CCL Project.