Jun. 9 at 2:13 PM
Cheniere Energy, Inc. recently announced that in order to secure future LNG volumes, it has entered into a long-term Integrated Production Marketing (“IPM”) agreement with Canadian Natural Resources Limited. The deal, underscores a deepening partnership between upstream gas producers and global LNG marketers.
Under the IPM agreement, CNQ will supply 140,000 million BTUs of natural gas per day to Cheniere Marketing over a 15-year term, starting in 2030. CNQ will serve as the guarantor for the agreement. The resulting LNG, amounting to approximately 0.85 million tons p.a., will be marketed by Cheniere Marketing. Cheniere, will pay a price linked to the Platts Japan Korea Marker, net of fixed shipping and liquefaction costs, ensuring pricing transparency and market alignment. This IPM agreement is contingent upon a positive (“FID”) for Cheniere’s Sabine Pass Liquefaction Expansion Project (SPL Expansion Project) with anticipated production capacity of up to approximately 20 mtpa LNG.
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