Get 40% Off
💰 Buffett reveals a $6.7B stake in Chubb. Copy the full portfolio for FREE with InvestingPro’s Stock Ideas toolCopy Portfolio

Cheniere Energy strikes LNG supply deal with BASF

Published 22/08/2023, 14:15
© Reuters. FILE PHOTO: The logo of Houston-based liquefied natural gas company Cheniere seen during the LNG 2023 energy trade show in Vancouver, British Columbia, Canada, July 12, 2023. REUTERS/Chris Helgren/File Photo
BASFN
-
LNG
-

(Reuters) - Cheniere Energy said on Tuesday it would supply 0.8 million tonnes per annum (mtpa) of liquefied natural gas (LNG) to Germany's BASF.

The United States has emerged as the world's largest LNG exporter after Western sanctions on major supplier Russia left Europe scrambling to find alternate sources for the commodity.

Cheniere has also entered into supply deals with Norway's Equinor and Korea Southern Power as well as China's ENN Natural Gas earlier this year.

Tuesday's contract would also support Cheniere's Sabine Pass LNG expansion in Louisiana, which is being developed for up to about 20 mtpa of total LNG capacity.

Deliveries will start in mid-2026 and increase to about 0.8 mpta once train seven of the Sabine Pass project comes online. The LNG supply deal will extend through 2043.

(This story has been corrected to remove the reference to 2026 deliveries being contingent on the final investment decision, and say the deal extends through 2043, not 2024, in paragraph 5)

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.