Cheniere Energy, Inc. (“Cheniere”) (NYSE American: LNG) announced today
that its subsidiary Cheniere Marketing International LLP (“Cheniere
Marketing”) has entered into a liquefied natural gas (“LNG”) sale and
purchase agreement (“SPA”) with CPC Corporation, Taiwan (“CPC”). CPC has
agreed to purchase approximately 2 million tonnes per annum of LNG from
Cheniere Marketing on a delivered ex-ship basis for a term of 25 years.
The contract will begin in 2021. The purchase price for LNG is indexed
to the monthly Henry Hub price, plus a fee.
“We are pleased to announce this long-term SPA with CPC, one of the LNG
market’s most experienced and well-respected companies. The SPA follows
a Heads of Agreement we signed with CPC in June, which was the result of
long-term discussions and development of a commercial relationship with
CPC over several years,” said Jack Fusco, Cheniere’s President and CEO.
“This SPA demonstrates Cheniere’s growing capabilities to deliver
tailored solutions to meet the energy needs of customers worldwide, and
further reinforces our position as a premier global LNG provider.”
About Cheniere
Cheniere Energy, Inc., a Houston-based energy company primarily engaged
in LNG-related businesses, owns and operates the Sabine Pass LNG
terminal in Louisiana. Directly and through its subsidiary, Cheniere
Energy Partners, L.P., Cheniere is developing, constructing, and
operating liquefaction projects near Corpus Christi, Texas and at the
Sabine Pass LNG terminal, respectively. Cheniere is also exploring a
limited number of opportunities directly related to its existing LNG
business.
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, 2018,
filed with the Securities and Exchange Commission.
About CPC
CPC is Taiwan’s state-owned oil and gas company, which was founded on
June 1, 1946 with a mandate to lead Taiwan’s energy sector. As an
enterprise in state ownership, it is responsible for supplying
sufficient and reliable energy to the domestic market. CPC’s business
areas include oil & gas exploration and production, refining,
petrochemicals, lubricants, solvents and chemicals; it is also Taiwan’s
sole importer and supplier of natural gas, CPC imported nearly 16.5
million tons of LNG in 2017, making it the world’s 5th largest importer.
Forward-Looking Statements
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 or present
facts or conditions, 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 liquefaction
facilities, (ii) statements regarding expectations regarding regulatory
authorizations 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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