Cheniere Strikes Long-Term LNG Supply Deal With South Korea's Posco
25 Maggio 2022 - 2:55PM
Dow Jones News
By Robb M. Stewart
Cheniere Energy Inc. has agreed to a long-term liquefied natural
gas supply deal with a subsidiary of South Korean steelmaker Posco
Holdings Inc.
The energy company said Posco International Corp. has agreed to
buy about 400,000 metric tons of LNG a year for a term of 20 years,
beginning in late 2026. The price for the super-chilled gas under
the agreement is indexed to the Henry Hub price, plus a fixed
liquefaction fee, Cheniere said.
Cheniere's agreement was announced the same day Sempra said it
entered a heads of agreement to supply about 2.25 million metric
tons a year of liquefied natural gas to German energy company RWE
AG, which will come from the first phase of the Port Arthur LNG
project being developed in Texas. Phase one of the project is
expected to include two liquefaction lines and storage tanks, and
facilities able to produce up to about 13.5 million tons a year of
LNG.
Cheniere said the supply deal with Posco is subject to a final
investment decision to build the Corpus Christi Stage III project,
which is being developed to include up to seven midscale
liquefaction lines with a total expected nominal production
capacity of more than 10 million tons a year.
Write to Robb M. Stewart at robb.stewart@wsj.com
(END) Dow Jones Newswires
May 25, 2022 08:40 ET (12:40 GMT)
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