Cheniere Energy Inc.’s subsidiary Cheniere Marketing International LLP has entered into a long-term LNG purchase and sale agreement (PSA) with Korea Southern Power Co. Ltd. (KOSPO), Cheniere Energy announced in a May 16 news release. (Source: Shutterstock.com)
Cheniere Energy Inc.’s subsidiary Cheniere Marketing International LLP has entered into a long-term LNG purchase and sale agreement (PSA) with Korea Southern Power Co. Ltd. (KOSPO), Cheniere Energy announced in a May 16 news release.
The PSA dictates that KOSPO will purchase approximately 0.4 million tonnes per annum (mpta) of LNG from Cheniere Marketing from 2027 through 2046. This shipment will be on an ex-ship basis, meaning Cheniere Marketing will be responsible for shipping the LNG until it has arrived at port. In 2024, a smaller annual quantity of LNG will be delivered, though the release does not clarify the size of this shipment.
The approximate volumes of LNG being delivered from 2028 through 2046 will be determined following a positive final investment decision.
“This [PSA] is expected to support the SPL Expansion Project, and we are excited to build commercial momentum as the project’s development progresses,” said Jack Fusco, president and CEO of Cheniere. “This [PSA] further highlights Cheniere’s leadership in providing flexible, cleaner burning energy supply to meet both the energy security needs and environmental goals of our customers in both the short and long term.”
Cheniere Energy is an LNG producer and exporter based in the United States. KOSPO is a public energy company that, until 2002, was known as Korea Electric Power Corp.
Recommended Reading
Trump Tariff Threat Raises Consternation Among Oil Lobbying Groups
2024-11-26 - Late Nov. 25, President-elect Donald Trump said one of his first executive orders would be to enact a 25% tariff on “all products” originating from Canada and Mexico, a move that could escalate refined products prices.
Oil Prices Ease as Markets Weigh China Stimulus Hopes
2024-12-26 - Oil edged lower on Dec. 26 in light holiday trade as the dollar's strength offset hopes for additional fiscal stimulus in China.
Commentary: Maximizing the Opportunity for Energy Dominance
2024-12-18 - Energy produced in the U.S. already has a strong grip on global markets. But with the country on the cusp of a new regulatory environment, will the U.S. capitalize on the opportunity to maximize energy dominance?
Trump vs. Harris—Policy Promises vs. Economics
2024-10-22 - The presidential debate did not shed much light on policy initiatives. Are there substantive differences?
Dell: Folly of the Forecast—Why DOE’s LNG Study Will Invariably Be Wrong
2025-01-07 - Kimmeridge’s Ben Dell says the Department of Energy’s premise that increased LNG exports will raise domestic natural gas prices ignores a market full of surprises.
Comments
Add new comment
This conversation is moderated according to Hart Energy community rules. Please read the rules before joining the discussion. If you’re experiencing any technical problems, please contact our customer care team.