Cheniere signs 20 year SPA with Gas Natural Fenosa
June 2, 2014
Cheniere and Gas Natural Fenosa signed a 20 year SPA for LNG sales from Corpus Christi Train 2 (Gas Natural Fenosa contracts for approximately 1.5 million tonnes per annum of LNG).
Under the SPA, Gas Natural Fenosa will purchase LNG on a free on board (“FOB”) basis for a purchase price indexed to the monthly Henry Hub price plus a fixed component. LNG will be loaded onto Gas Natural Fenosa’s vessels. The SPA has a term of twenty years commencing upon the date of first commercial delivery of the second train of the Corpus Christi Liquefaction Project, with an extension option of up to ten years. Deliveries from Train 2 are expected to occur in 2019.