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

7/26/2022

Cheniere Energy - Press release

Cheniere Energy, Inc. announced today that its wholly-owned subsidiary, Corpus Christi
Liquefaction, LLC has entered into a long-term liquefied natural gas sale
and purchase agreement (“SPA”) with PTT Global LNG Company Limited, a
wholly-owned subsidiary of PTT Public Company Limited, Thailand’s largest state-owned, multinational energy company.

Under the SPA, PTTGL has agreed to purchase 1.0 million tonnes per annum (“mtpa”) of
LNG from CCL for twenty years beginning in 2026. The SPA calls for a combination of free on-board (FOB) and delivered ex-ship (DES) deliveries. This customized structure
represents a further evolution in Cheniere’s commercial offerings tailored to the specific
needs of LNG customers around the world. The purchase price for LNG under the SPA is
indexed to the Henry Hub price, plus a fixed liquefaction fee.
“We are pleased to enter into this 20-year SPA with a subsidiary of PTT, the state-owned oil
and gas company of Thailand which developed, owns and operates Thailand’s first LNG
import terminal, and is an energy leader in a key, fast-growing Southeast Asian market,” said
Jack Fusco, Cheniere’s President and Chief Executive Officer. “This is the first direct LNG
contract from a US LNG producer for PTTGL, and this agreement not only reflects the critical
need for long-term, reliable LNG supply across the globe, but also the important role LNG
has to play in powering growing economies for decades to come.”
“Our new vision Powering Life with Future Energy and Beyond reflects the strategic direction
and business transition toward clean energy as well as new businesses. LNG or gas is a
major transition fuel which supports both energy security and sustainability. Our ambition is
to move forward with the future energy while ensuring energy security. We actively engage
in the LNG business and target to be a Global LNG Player by managing an LNG portfolio of
9 mtpa by 2030. By the end of this year, PTT’s LNG receiving terminals will be able to
accommodate regasification capacity up to 19 million tons per year with our new terminal,”
said Auttapol Rerkpiboon, PTT’s President and Chief Executive Officer.