ENGIE and Cheniere enter into an LNG Sales and Purchase Agreement
ENGIE announces the execution of a 5-year Sales and Purchase Agreement (SPA) with Cheniere Marketing International LLP. Under this agreement, ENGIE will purchase up to 12 cargoes of liquefied natural gas (LNG) per year from Cheniere to be delivered ex-ship at the Montoir-de-Bretagne regasification terminal from the Sabine Pass and Corpus Christi LNG terminals. The sales price for the LNG cargoes is linked to Northern European indexes.
Pierre Chareyre, Executive Vice President in charge of the Global Gas and LNG business line declared: “ENGIE is committed to guarantee the supply of its European customers with clean and reliable energy. Importing US LNG will participate to strengthen the security of supply of Europe. Besides, in the context of the energy transition, natural gas is the perfect partner for renewables energies, since it is flexible and abundant”.
Bringing LNG from the USA will contribute to diversify the origin of the natural gas consumed in Europe. The LNG will be sourced from the Cheniere portfolio, with the primary source being the Corpus Christi liquefaction plant currently under construction.
Under the contract, deliveries will start in 2018 and last over a 5-year period. The LNG can alternatively be shipped to other European LNG terminals, which enhances the flexibility of the Group’s portfolio management.
ENGIE is a global LNG player and the main European LNG importer. Today ENGIE has one of the most diversified LNG supply portfolios in the world. It controls a large fleet of 14 LNG carriers under medium and long term charter agreements. The fleet is permanently optimized to satisfy ENGIE’s long term commitments and short term opportunities. The Group has also a significant presence in regasification terminals around the world.
ENGIE develops its businesses (power, natural gas, energy services) around a model based on responsible growth to take on the major challenges of energy’s transition to a low-carbon economy: access to sustainable energy, climate-change mitigation and adaptation, security of supply and the rational use of resources. The Group provides individuals, cities and businesses with highly efficient and innovative solutions largely based on its expertise in four key sectors: renewable energy, energy efficiency, liquefied natural gas and digital technology. ENGIE employs 152,900 people worldwide and achieved revenues of €74.7 billion in 2014. The Group is listed on the Paris and Brussels stock exchanges (ENGI) and is represented in the main international indices: CAC 40, BEL 20, DJ Euro Stoxx 50, Euronext 100, FTSE Eurotop 100, MSCI Europe, DJSI World, DJSI Europe and Euronext Vigeo (World 120, Eurozone 120, Europe 120 and France 20).