Cheniere Energy Inc. subsidiary Corpus Christi Liquefaction LLC (CCL) has agreed to supply LNG to PTT Global LNG Co. Ltd. (PTTGL), a subsidiary of PTT Public Co. Ltd. (PTT), Thailand’s largest state-owned, multinational energy company.
Under the agreement, PTTGL will purchase 1.0 million tonnes/year (tpy) of LNG from CCL for 20 years beginning in 2026, Cheniere said in a release July 26. The deal calls for a combination of free-on-board (FOB) and delivered ex-ship (DES) deliveries. The purchase price is indexed to the Henry Hub price, plus a fixed liquefaction fee.
The deal marks the first direct LNG contract from a US LNG producer for PTTGL, said Jack Fusco, Cheniere’s president and chief executive officer.
PTT aims to manage an LNG portfolio of 9 million tpy by 2030. By yearend 2022, PTT’s LNG receiving terminals will be able to accommodate regasification capacity up to 19 million tpy, said Auttapol Rerkpiboon, PTT’s president and chief executive officer.