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Petrochina US China LNG
Simon Ferrie
21 July 2022
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Cheniere and Petrochina ink LNG deal

US exporter has signed another long-term supply agreement, this time with a Chinese buyer

State-controlled Petrochina and Cheniere have signed a SPA for up to 1.8mn t/yr of LNG on a Fob basis. Deliveries are due to start in 2026, reach full capacity in 2028 and run until 2050. The LNG will be indexed to the Henry Hub plus a fixed liquefaction fee, Cheniere confirms. Half of the contracted volume is dependent on Cheniere reaching FID on the planned expansion of the Corpus Christi LNG terminal beyond a third phase. Petrochina and Cheniere already had a supply agreement in place for around 1.2mn t/yr. This latest deal builds “upon our existing and successful long-term relationship”, says Cheniere CEO Jack Fusco, adding that this is the company’s “first LNG contract that crosses over

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Also in this section
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Letter from Canada: LNG export industry in disarray
Opinion
1 February 2023
Canada at one stage looked set to be a major LNG exporter, but all except four liquefaction projects have fallen by the wayside
Bakken faces inventory concerns
1 February 2023
The North Dakota shale basin nears a looming acreage problem
US approves Trinidad-Venezuela Dragon talks
31 January 2023
The gas field could help Trinidad and Tobago sustain its LNG industry

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