Cheniere Signs LNG Supply Deal with PetroChina International

Houston-based Cheniere signed a long-term sale and purchase agreement with PetroChina for an LNG supply deal with the Chinese company spanning 24 years.

Cheniere Signs LNG Supply Deal with PetroChina International

The agreement with PetroChina is the first LNG supply deal for Cheniere that “crosses over into the second half of this century,” company President and CEO Jack Fusco said in the statement. (Source: Hart Energy, Shutterstock.com)

Affiliates of Cheniere Energy Inc. and PetroChina Co. Ltd. entered into a long-term LNG sale and purchase agreement for 1.8 million tonnes per annum (mtpa) of supply spanning 24 years.

The deal allows the U.S.-based company to provide vital supply to clients looking to secure LNG amid rising demand for the resource as the energy sector and global economies continue to transition away from oil and coal to low-carbon alternatives.

Per the agreement, PetroChina subsidiary PetroChina International Co. Ltd. will acquire up to 1.8 mtpa of LNG from Cheniere Marketing LLC, a wholly-owned subsidiary of Cheniere, on a free-on-board basis, Houston-based Cheniere revealed July 20 in a press statement. 

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