Under the SPA, Equinor has agreed to purchase approximately 1.75 million tonnes per annum (“mtpa”) of LNG from Cheniere Marketing on a free-on-board basis for a term of approximately 15 years. The deliveries under the SPA will start in the second half of 2026 and reach the full 1.75 mtpa in the second half of 2027. Half of the volume, or approximately 0.9 mtpa, is subject to Cheniere making a positive final investment decision (“FID”) to construct additional liquefaction capacity at the Corpus Christi LNG Terminal beyond the seven-train Corpus Christi Stage III Project.
“Equinor is one of Europe’s premier energy companies, and we are excited to form a long-term relationship with another strategic customer that shares our ambitions for a sustainable future,” said Jack Fusco, Cheniere’s President and Chief Executive Officer. “This SPA further reinforces Cheniere’s leadership in providing the flexible, reliable and cleaner burning long-term LNG supply sought by our customers across the globe focused on energy security and environmental priorities. The SPA also reflects the urgency in demand for investment in additional LNG capacity, not only for the Corpus Christi Stage III Project, which is nearing FID, but also for capacity beyond the project’s initial seven trains.”