HOUSTON, Aug. 11, 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 sales arrangements 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") to the Dunkerque
LNG terminal in France. The sales
arrangements cover the delivery of up to 26 cargoes, or up to
approximately 100 million MMBtus, through 2018. The sales price for
the LNG cargoes is linked to the Dutch Title Transfer index (TTF),
a natural gas pricing index in continental Europe.
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 Sabine Pass
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 the nine liquefaction trains being developed at Sabine Pass and Corpus Christi.
In addition to the 26 cargoes under these EDF transactions,
Cheniere Marketing has sold 42 cargoes to date with delivery
expected from Sabine Pass in the
2016-2018 timeframe. The majority of these cargoes were sold to
customers on a DES basis whereby Cheniere Marketing will use its
chartered vessels to deliver the LNG to the requested
terminal. The sales price for these 42 cargoes is based on an
applicable Henry Hub index price plus a fixed fee. In total,
Cheniere Marketing has executed agreements for the sale of up to 68
cargoes, or up to approximately 250 million MMBtus, to buyers in
Europe and Asia through 2018.
Furthermore, Cheniere Marketing recently announced the sale of
approximately 0.6 mtpa of LNG under a 20-year SPA with Central El
Campesino, which is expected to be delivered from the CCL
Project. The SPA is subject to the Central El Campesino power
project reaching a final investment decision. LNG will be sold on a
DES basis with the sales price based on an applicable Henry Hub
index plus a fixed fee.
About Cheniere Energy, Inc.
Cheniere Energy, Inc. is a Houston-based energy company primarily engaged
in LNG-related businesses and owns and operates the Sabine Pass LNG
terminal and Creole Trail Pipeline in Louisiana. Cheniere is pursuing related
business opportunities both upstream and downstream of the Sabine
Pass LNG terminal. Through its subsidiary, Cheniere Energy
Partners, L.P., Cheniere is developing a liquefaction project at
the Sabine Pass LNG terminal adjacent to the existing
regasification facilities for up to six Trains, each of which is
expected to have a nominal production capacity of approximately 4.5
mtpa of LNG. Construction has begun on Trains 1 through 5 of the
Sabine Pass Liquefaction Project. Cheniere is also developing
liquefaction facilities near Corpus
Christi, Texas. The CCL Project is being designed for up to
five Trains, with expected aggregate nominal production capacity of
approximately 22.5 mtpa of LNG, four LNG storage tanks with
capacity of approximately 13.5 Bcfe and two LNG carrier docks.
Construction has begun on the first two Trains of the CCL
Project. Cheniere has agreed in principle to partner
with Parallax Enterprises, LLC for the development of up
to 11 mtpa of LNG production capacity through Parallax's two
mid-scale natural gas liquefaction projects, Live Oak LNG and
Louisiana LNG. 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, 2015, filed with
the Securities and Exchange Commission.
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 fact, included herein are "forward-looking statements."
Included among "forward-looking statements" are, among other
things, (i) statements regarding Cheniere's business strategy,
plans and objectives, including the development, construction and
operation of the liquefaction facilities, (ii) statements regarding
expectations regarding regulatory authorization 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, and (vi) statements
regarding future discussions and entry into contracts. 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.
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SOURCE Cheniere Energy, Inc.