QatarEnergy signed two long-term sale and purchase agreements (SPAs) with Cheniere for the purchase of up to 4mn tonnes per annum (MTPA) of LNG from Cheniere's Sabine Pass and Corpus Christi facilities in the States of Louisiana and Texas respectively, located along the US Gulf Coast.
Under the terms of the SPAs, deliveries will be on an FOB basis and are anticipated to commence in 2031 and continue through 2054, according to statement by QatarEnergy said on Thursday.
The SPAs were signed by His Excellency Saad bin Sherida al-Kaabi, the Minister of State for Energy Affairs, also the President and CEO of QatarEnergy; and Jack Fusco, Chairman, President and CEO of Cheniere Energy, Inc.
Commenting on the occasion, HE al-Kaabi said, "The signing of these two SPAs marks an important milestone in our LNG strategy. This major long-term purchase will expand and diversify our global LNG portfolio and advance our ability to meet the evolving requirements of the market. The additional volumes will complement QatarEnergy's existing LNG supplies, enhance our supply and trading portfolio, and strengthen our ability to serve customers across the globe."
The two SPAs reflect QatarEnergy's continued confidence in the long-term role of LNG in the global energy mix and its efforts to further develop a flexible, diversified, and globally competitive LNG portfolio.
