ENEL SIGNS TWO 20-YEAR CONTRACTS FOR THE SUPPLY OF LNG FROM UNITED STATES

Published on martes, 8 abril 2014

The Group has signed two LNG supply contracts with Cheniere Energy, with gas sourced from shale gas fields, for a total of 3 billion cubic metres a year, of which about 1 billion cubic metres for the Italian market.
The first deliveries are expected to begin in 2018 from the Corpus Christi terminal, which the US company is building in Texas.

Rome, April 8th, 2014 – The Enel Group has signed two 20-year contracts with the US company Cheniere Energy for the supply of LNG (liquefied natural gas) from shale gas fields in the United States, for a total of 3 billion cubic metres a year, of which about 1 billion cubic metres for the Italian market. Both contracts were signed with  Corpus Christi Liquefaction, a subsidiary of Cheniere.

Thanks to the agreements, Enel increases the diversification and flexibility of its gas supply portfolio for the coming years.

Under the first agreement, which was closed last week, Cheniere will supply the Enel Group with about 2 billion cubic metres of gas a year. Enel will use the fuel to meet demand in the Iberian market. The second agreement will provide Enel with a further 1 billion cubic metres to supply the Italian market. 

Both contracts have a term of 20 years, with an option for a further 10 years, with the agreements taking force as from the first deliveries, which are expected to begin in 2018.
The gas will be supplied as LNG, on FOB basis, therefore with full flexibility of destination,  at the Corpus Christi terminal which Cheniere Energy is building in Quinta Bay, on the Texas coast, an area that is closely integrated with the country's main gas pipelines. From there, the fuel will be loaded directly onto the LNG tankers of the Enel Group and transported to the Group's regasification facilities. The terminal is designed for up to three LNG trains, with an aggregate capacity of 13.5 million tonnes a year (about 18 billion cubic metres of gas).

 

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General | abril, 08 2014

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