Cheniere Marketing LLC, a Cheniere Energy Inc. subsidiary, has agreed to supply LNG to PetroChina International Co. Ltd., a subsidiary of PetroChina Co. Ltd.
Under the agreement, PetroChina will purchase up to about 1.8 million tonnes/year (tpy) of LNG from Cheniere Marketing on a free-on-board basis. Deliveries will begin in 2026, reach the full 1.8 million tpy in 2028, and continue through 2050, Cheniere said in a release July 20.
The purchase price for LNG under the SPA is indexed to Henry Hub, plus a fixed liquefaction fee. Half of the total volume (about 900,000 tpy) is subject to Cheniere making a positive final investment decision (FID) to construct additional liquefaction capacity at the Corpus Christi LNG terminal beyond the seven-train Corpus Christi Stage 3 Project.
The deal increases Cheniere’s long-term sales to PetroChina to about 3 million tpy, Cheniere said.