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Cheniere and ENN Sign Long-Term LNG Sale and Purchase Agreement

10/11/2021

Cheniere Energy - Press release

Cheniere Energy, Inc. (“Cheniere” or the “Company”)
(NYSE American: LNG) announced today that its subsidiary, Cheniere Marketing, LLC
(“Cheniere Marketing”), has entered into a liquefied natural gas (“LNG”) sale and purchase
agreement (“SPA”) with ENN LNG (Singapore) Pte Ltd (“ENN LNG”), a wholly-owned
subsidiary of ENN Natural Gas Co., Ltd. (“ENN Natural Gas”).
Under the SPA, ENN LNG has agreed to purchase approximately 0.9 million tonnes per
annum of LNG from Cheniere Marketing on a free-on-board basis for a term of approximately
13 years beginning in July 2022. The purchase price for LNG under the SPA is indexed to
the Henry Hub price, plus a fixed liquefaction fee. ENN Natural Gas is acting as guarantor of
the SPA.
“We are pleased to announce this long-term LNG contract with ENN, a major player in
China’s rapidly growing natural gas market, and we look forward to a successful, long-term
relationship with ENN as a customer,” said Jack Fusco, Cheniere’s President and Chief
Executive Officer. “This SPA underscores the strength of the global LNG market today,
particularly in China, and highlights Cheniere’s role as a leading global LNG supplier,
tailoring solutions to help meet the long-term energy needs and environmental goals of our
customers. The SPA also further advances Cheniere’s commercial momentum and marks
another milestone in our efforts to contract our LNG capacity on a long-term basis in
anticipation of an FID of Corpus Christi Stage 3, which we expect will occur next year.”
Wang Yusuo, Chairman of the Board of ENN Natural Gas said, “China is making great
efforts to achieve the goal of peak carbon emissions and carbon neutrality, boosting the
reform of the natural gas market, and accelerating the structural adjustment of energy
consumption. As one of the world’s leading LNG suppliers, Cheniere has great advantages
on resource production and supply capacity, which is highly compatible with the fast-growing
natural gas market in China. ENN is accelerating the usage of digital technology to build a
modern energy system, and to promote intelligent upgrading of the natural gas industry. It is
expected that the two parties will seize the opportunity of this cooperation to establish a
strategic relationship, to provide clients with high quality resources and services, and to
make positive efforts to the realization of peak carbon emissions and carbon neutrality in
China.”