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LNG: Galp Signs 20 Year LNG SPA with Cheniere

LNG
Energy BulletsBulletPower BulletsCommodities

Portugal’s Galp has increased its access to US LNG volumes by signing a SPA with Cheniere Marketing.

  • Cheniere will supply 0.5mtpa of LNG a year for 20 years, with delivery dependant on FID of the second liquefaction train of Sabine Pass in Cameron Parish, Louisiana.
  • The agreement also provides access to a limited number of early cargoes from 2027 and up to the launch of the second liquefaction unit.
  • The volumes will be purchased on a FOB basis and priced indexed to Henry Hub plus a fixed liquefaction fee.
  • “This agreement further enhances Galp’s LNG sourcing basket with access to competitive US volumes, adding flexibility and diversity to its portfolio,” said a Galp statement.
  • The Sabine Pass facility currently has a capacity of about 30mtpa but Cheniere aims to build two new liquefaction trains as part of the Stage 5 expansion project to add up to 20mtpa of capacity.
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Portugal’s Galp has increased its access to US LNG volumes by signing a SPA with Cheniere Marketing.

  • Cheniere will supply 0.5mtpa of LNG a year for 20 years, with delivery dependant on FID of the second liquefaction train of Sabine Pass in Cameron Parish, Louisiana.
  • The agreement also provides access to a limited number of early cargoes from 2027 and up to the launch of the second liquefaction unit.
  • The volumes will be purchased on a FOB basis and priced indexed to Henry Hub plus a fixed liquefaction fee.
  • “This agreement further enhances Galp’s LNG sourcing basket with access to competitive US volumes, adding flexibility and diversity to its portfolio,” said a Galp statement.
  • The Sabine Pass facility currently has a capacity of about 30mtpa but Cheniere aims to build two new liquefaction trains as part of the Stage 5 expansion project to add up to 20mtpa of capacity.