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Cheniere Energy (NYSE:LNG) (NYSE:CQP) said Wednesday it entered into a long-term liquefied natural gas sale and purchase agreement with Equinor (EQNR).
Equinor (EQNR) agreed to purchase 1.75M metric tons/year of LNG on a free-on-board basis for a purchase price indexed to the Henry Hub price, for a 15-year term.
Delivery of half of the volume associated with the SPA will start in 2027, with delivery of the remaining half subject to a positive final investment decision on the first train of the Sabine Pass liquefaction expansion project, will begin at the end of the decade.
The Sabine Pass project is being developed to include up to three natural gas liquefaction trains with an expected total production capacity of ~20M tons/year of LNG.
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Image and article originally from seekingalpha.com. Read the original article here.