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GLNG: Cheniere signs LNG supply deal with Thailand’s PTT

US LNG producer Cheniere Energy announced this week that it had struck a deal to supply the super-chilled fuel to a unit of Thailand’s PTT.
Under the sale and purchase agreement (SPA), Cheniere’s Corpus Christi Liquefaction subsidiary has agreed to supply 1mn tonnes per year (tpy) of LNG to PTT Global LNG (PTTGL) over a 20-year period starting in 2026. The SPA allows for a combination of free-on-board (FOB) and delivered ex-ship (DES) deliveries, which Cheniere said represented a further evolution in its commercial offerings, customised to meet the specific needs of different customers.
The purchase price of the LNG sold under the deal will be indexed to the US Henry Hub benchmark, plus a fixed liquefaction fee. While the LNG will come from Cheniere’s Corpus Christi terminal in Texas, the company did not specify which phase of the facility would be used to produce the fuel. Cheniere took a final investment decision (FID) on the Stage 3 expansion of the facility last month, and has recently started signing SPAs that are conditional at least in part on it expanding capacity at Corpus Christi further beyond Stage 3.