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    Cheniere and EDF sign 20-year LNG sale and purchase agreement

    Cheniere Energy Inc.

    Cheniere Energy Inc. (NYSE MKT: LNG) reports that its subsidiary, Corpus Christi Liquefaction LLC, has entered into a liquefied natural gas (LNG) sale and purchase agreement (SPA) with Électricité de France SA (EDF) under which EDF has agreed to purchase 0.38 million tonnes per annum (mtpa) of LNG upon the commencement of operations of Train 2 of the LNG export facility being developed near Corpus Christi, Texas, and increasing to 0.77 mtpa of LNG upon the commencement of operations of Train 3.

    The Corpus Christi Liquefaction Project is being designed and permitted for up to three trains, with aggregate design production capacity of 13.5 mtpa of LNG.

    Under the SPA, EDF will purchase LNG on a free on board basis for a purchase price indexed to the monthly Henry Hub price plus a fixed component. LNG will be loaded onto EDF's vessels. The term of the SPA will extend for 20 years beyond the date of first commercial delivery of the third train of the Corpus Christi Liquefaction Project, with an extension option of up to 10 years. Deliveries from Train 3 are expected to occur as early as 2019.

     

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