Cheniere becomes first US LNG producer to sign China SPA
Cheniere entered into two LNG sales-and-purchase agreements with China National Petroleum Corp. on Friday.
9 February 2018
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Cheniere has entered into two LNG sales-and-purchase agreements (SPAs) with China National Petroleum Corp. (CNPC) for 1.2 mtpa, the American company announced on Friday. This marks the first time a Chinese company has contracted for offtake from a United States LNG exporter.
CNPC subsidiary PetroChina International will purchase the volume, with a portion of the supply starting in 2018 and the balance beginning in 2023. Each SPA will continue until 2043 and will be indexed to the Henry Hub price plus a fixed component.
The agreements are the...
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