Cheniere, Vitol Sign 15-Year LNG Sale And Purchase Deal - Quick Facts

(RTTNews) - Cheniere Energy, Inc. (LNG), a Houston-based energy company, announced Monday that its subsidiary Cheniere Marketing, LLC has entered into a liquefied natural gas or LNG sale and purchase agreement with Vitol Inc.

Under the SPA, Vitol has agreed to purchase approximately 0.7 million tonnes per annum of LNG from Cheniere Marketing on a free on board basis for a term of approximately 15 years beginning in 2018. The purchase price for LNG is indexed to the monthly Henry Hub price, plus a fee.

Jack Fusco, Cheniere's President and CEO, said, "This agreement continues Cheniere's commercial momentum and supports our growth plans, while demonstrating the value LNG buyers place on Cheniere's unique ability to offer flexible solutions tailored to the needs of LNG customers worldwide."