Equinor taps Cheniere for long-term LNG supply
Norway's Equinor announced on June 9 it had entered into a 15-year deal to purchase 1.75mn metric tons of LNG annually from US exporter Cheniere, starting in 2026.
Shipments will be delivered on a free-on-board basis and reach the full 1.75mn mt/yr volume by the second half of 2027. But half of the supply, approximately 0.9mn mt/yr, is contingent on Cheniere taking a final investment decision to expand the Corpus Christi LNG terminal beyond the seven-train Stage 3 project, it said.
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"The new LNG agreement is a major building block in Equinor’s ambition to further strengthen our global gas position by adding more LNG to the portfolio," Equinor's senior vice president for gas and power, Helge Haugane, said. "LNG will play a crucial role in providing energy security. By increasing our position in this segment, we will be even better positioned as a long-term reliable supplier of energy."
Cheniere also signed a 0.4mn mt/yr, 20-year supply deal with South Korea's POSCO Holdings in late May. The supplies will also start in 2026, and come from the Corpus Christi Stage 3 project.