HOUSTON–(BUSINESS WIRE)–Cheniere Energy, Inc. (“Cheniere” or the “Company”) (NYSE American: LNG) today announced that its wholly-owned subsidiary, Corpus Christi Liquefaction, LLC (“CCL”) has entered into an agreement long-term liquefied natural gas (“LNG”) (“SPA”) sale and purchase agreement with PTT Global LNG Company Limited (“PTTGL”), a wholly owned subsidiary of PTT Public Company Limited (“PTT”) , Thailand’s largest state-owned, multinational energy company.
Under the SPA, PTTGL has agreed to purchase 1.0 million tonnes per annum (“mtpa”) of LNG from CCL for twenty years beginning in 2026. The SPA provides for a combination of free on board (FOB) and ex-ship delivery (DES) deliveries. This customized structure represents a further evolution of Cheniere’s commercial offerings tailored to the specific needs of LNG customers around the world. The LNG purchase price under the SPA is indexed to the Henry Hub price, plus a fixed liquefaction fee.
“We are delighted to enter into this 20-year SPA with a subsidiary of PTT, Thailand’s state-owned oil and gas company that developed, owns and operates Thailand’s first LNG import terminal, and is a leader in energy in a key and fast-growing Southeast Asian market,” said Jack Fusco, President and CEO of Cheniere. “This is the first direct LNG contract from a US producer of LNG for PTTGL, and this agreement not only reflects the critical need for a reliable, long-term supply of LNG across the world, but also the important role that LNG must play in fueling growing economies. decades to come.”
“Our new vision Powering Life with Future Energy and Beyond reflects the strategic direction and transition of companies to clean energy as well as new ventures. LNG or gas is a major transition fuel that supports both energy security and sustainability. Our ambition is to move forward with the energy of the future while ensuring energy security. We are actively engaged in the LNG sector and aim to be a global LNG player by managing an LNG portfolio of 9 mtpa by 2030. By the end of this year, PTT’s LNG receiving terminals will be able to accommodate a regasification capacity of up to 19 million tonnes per year. year with our new terminal,” said Auttapol Rerkpiboon, President and CEO of PTT.
Cheniere Energy, Inc. is the leading producer and exporter of liquefied natural gas (LNG) in the United States, reliably providing a clean, safe and affordable solution to the growing global need for natural gas. Cheniere is a full-service LNG supplier, with capabilities that include gas supply and transportation, liquefaction, vessel charter and LNG delivery. Cheniere has one of the largest liquefaction platforms in the world, consisting of the Sabine Pass and Corpus Christi liquefaction facilities on the US Gulf Coast, with a total production capacity of approximately 45 mtpy of LNG in operation and more than 10 mtpy of additional planned production capacity. In construction. Cheniere is also pursuing opportunities for liquefaction expansion and other projects along the LNG value chain. Cheniere is headquartered in Houston, Texas, with additional offices in London, Singapore, Beijing, Tokyo, and Washington, D.C.
For more information, please see Cheniere’s website at www.cheniere.com and Quarterly Report on Form 10-Q for the three months ended March 31, 2022 filed with the Securities and Exchange Commission.
PTT is Thailand’s fully integrated energy company operating natural gas, gas transmission, international trade, new business and infrastructure businesses; the rest is invested through subsidiaries, partnerships and associates, namely exploration and production, liquefied natural gas, petrochemicals and refining, petroleum and retail, power and utilities, coal and service companies.
PTTGL is a wholly owned subsidiary of PTT Public Company Limited and operates in the LNG business, established in 2017. The objective is to explore overseas investment opportunities in the LNG value chain, LNG liquefaction plant at the reception terminal as well as the supply and marketing of LNG.
This press release contains certain statements which may include “forward-looking statements” within the meaning 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 or statements or conditions, included herein are “forward-looking statements”. “Forward-looking statements” include, among others, (i) statements regarding the financial and operating directions, business strategy, plans and objectives of Cheniere, including the development, construction and operation of liquefaction, (ii) statements regarding regulatory clearance and approval expectations, (iii) statements expressing opinions and expectations regarding the development of the activities of the LNG terminal and the Chenière pipelines, including the liquefaction facilities , (iv) statements regarding third party business operations and prospects, (v) statements regarding potential financing arrangements, (vi) statements regarding future discussions and entering into contracts, (vii) statements relating to the Cheniere’s capital deployment, including intent, capacity, scope and timing of capital expenditures ions, debt repayment, dividends and share buybacks, and (viii) statements regarding the COVID-19 pandemic and its impact on our business and operations results. Although Cheniere believes that the expectations reflected in these forward-looking statements are reasonable, they involve assumptions, risks and uncertainties, and such expectations may prove to be incorrect. Cheniere’s actual results could differ materially from those anticipated in these forward-looking statements due to 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. Except as required by securities laws, Cheniere assumes no obligation to update these forward-looking statements.