CMS Energy's marketing business completes deal for LNG cargoes

CMS Energy Corp., Houston, Tuesday said that its energy marketing business, CMS Marketing, Services, and Trading (CMS-MST) has agreed to buy a combined 10 cargoes of LNG from QatarGas and RasGas for delivery to the CMS Trunkline facility in Lake Charles, La. The agreements will bring to 26 the total number of cargoes CMS-MST has scheduled for delivery this year and in 2001.


CMS Energy Corp., Houston, Tuesday said that its energy marketing business, CMS Marketing, Services, and Trading (CMS-MST), has agreed to buy 10 cargoes of LNG for delivery from Qatar to the CMS Trunkline facility in Lake Charles, La.

Strong US gasoline prices and surging demand for natural gas make buying the LNG cargoes an "attractive" business move for CMS, company spokesman Kelly Farr said. Keeping LNG flowing through the CMS Trunkline LNG terminal also is in the company's best interest.

CMS-MST said it will buy three cargoes of LNG from Qatar Liquified Gas Co. for delivery to the Lake Charles terminal. It also will buy seven cargoes from Ras Laffan Liquified Natural Gas Co. for delivery beginning June through April 2001. The total volume of all 10 deliveries will be 24 bcf.

Terms of the transactions were not disclosed. The agreements will bring to 26 the total number of cargoes CMS-MST has scheduled for delivery this year and in 2001. The company also is developing additional long and short-term LNG opportunities, said Tamela Pallas, president of CMS-MST.

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