Cheniere Energy, Inc. (LNG), an LNG company, said on Wednesday that its subsidiary, Cheniere Marketing, LLC, has inked a long-term Integrated Production Marketing gas supply deal with Canadian Natural Resources Limited (CNQ.TO,CNQ).
Under the terms, a subsidiary of Canadian Natural Resources has agreed to sell 140,000 MMBtu per day of natural gas to Cheniere Marketing for a term of 15 years, which is expected to begin in 2030.
Canadian Natural Resources will act as guarantor of this deal. The LNG associated with this gas supply, around 0.85 million tons per annum, will be marketed by Cheniere Marketing. Cheniere Marketing will pay an LNG-linked price for the natural gas, based on the Platts Japan Korea Marker.
The agreement is subject to Cheniere making a positive final investment decision with respect to the Sabine Pass Liquefaction Expansion Project, being developed with an expected total production capacity of up to around 20 mtpa of LNG, inclusive of estimated debottlenecking opportunities.
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