New York-listed Cheniere Energy has entered into a long-term liquefied natural gas (LNG) sale and purchase agreement with PetroChina.
Under the deal, the Houston-headquartered LNG player will sell approximately 1.8 mtpa of LNG on a free-on-board basis. Deliveries will start in 2026, reach the full 1.8 mtpa in 2028, and continue through 2050.
Cheniere said the purchase price for LNG is indexed to the Henry Hub price, plus a fixed liquefaction fee. Half of the total volume, or approximately 0.9 mtpa, is subject to Cheniere making a positive final investment decision to construct additional liquefaction capacity at the Corpus Christi LNG Terminal beyond the seven-train Corpus Christi Stage 3 project.
According to Jack Fusco, Cheniere’s president and chief executive officer, the new deal increases Cheniere’s long-term sales to PetroChina to approximately 3 mtpa.
