ENN LNG, a subsidiary of Chinese energy company ENN, and U.S. LNG exporter Cheniere Energy have signed a 13-year LNG sale and purchase agreement (SPA).
Cheniere Marketing will supply approximately 0.9 million tonnes per year of LNG to ENN LNG for 13 years. The start is in July 2022.
Furthermore, this is the first long-term LNG SPA since ENN Natural Gas completed its major asset restructuring in 2020. It also marks the first cooperation between ENN and Cheniere in the field of LNG.
The Chinese company says this is its first long-term LNG SPA that is indexed to the monthly Henry Hub price.
Since the beginning of this year, the LNG supply is tight and the price is high. Through this deal, ENN will have resources linked with various indexes. This is to further reduce procurement-related risks and optimize its resource pool.
Source: Offshore Energy
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