Cheniere Inks 20-Year LNG Supply Deal with Thailand’s PTT
(P&GJ) — Cheniere Energy Inc. has secured a 20-year LNG sale and purchase agreement (SPA) with a subsidiary of PTT Public Co. Ltd. (PTT), Thailand’s largest state-owned, multinational energy company.
Under the SPA, PTT Global LNG Cp. Ltd. (PTTGL) has agreed to purchase 1.0 million tonnes per annum (MTPA) of LNG from Corpus Christi Liquefaction LLC for 20 years beginning in 2026. The SPA calls for a combination of free-on-board and delivered ex-ship deliveries.
“This is the first direct LNG contract from a US LNG producer for PTTGL, and this agreement not only reflects the critical need for long-term, reliable LNG supply across the globe, but also the important role LNG has to play in powering growing economies for decades to come,” Jack Fusco, Cheniere’s president and CEO, said.
The customized structure of this deal represents a further evolution in Cheniere’s commercial offerings tailored to the specific needs of LNG customers around the world. The purchase price for LNG under the SPA is indexed to the Henry Hub price, plus a fixed liquefaction fee.
“We actively engage in the LNG business and target to be a Global LNG Player by managing an LNG portfolio of 9 MTPA by 2030. By the end of this year, PTT’s LNG receiving terminals will be able to accommodate regasification capacity up to 19 million tons per year with our new terminal,” Auttapol Rerkpiboon, PTT’s president and CEO, said.
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