Cheniere’s Spanish double

Cheniere Energy has signed a major LNG supply deal with a Spanish principle – its second such deal in as many days.

Gas Natural Fenosa will buy 1.5mtpa from the Corpus Christi LNG export facility in Texas for twenty years starting in 2019.

The Spanish company will purchase LNG on an FOB basis for a purchase price indexed to the monthly Henry Hub price plus a fixed component.

LNG will be loaded onto Gas Natural Fenosa’s own vessels. The agreement also has an extension option of up to ten years.

“Gas Natural Fenosa is the second foundation customer on Train 2 of our Corpus Christi Liquefaction Project being developed in Texas,” said Cheniere Energy chief executive Charif Souki.

Gas Natural Fenosa is already a foundation customer at Cheniere Energy’s Sabine Pass Liquefaction project.

The Corpus Christi Liquefaction Project is being designed for up to three trains, with aggregate design production capacity of 13.5mtpa of LNG.

Gas Natural Fenosa has a natural gas and LNG supply portfolio of around 30-bcm and a fleet of 10 LNG tankers.

Late last month Cheniere Energy signed a similar deal with Spanish utility Iberdola who agreed to purchase an initial 400,00tpa rising to 800,000tpa from the Corpus Christi facility for a twenty year period.