LNG Sabine Pass Terminal Contract Signed

Press Release
Thursday, December 27, 2012
Sabine Pass Terminal: Image credit Cheniere Partners

Cheniere Energy Partners' subsidiary Sabine Pass Liquefaction signs a LNG sale and purchase agreement with Total Gas & Power North America.

Cheniere Partners owns 100 percent of the Sabine Pass LNG terminal located on the Sabine Pass Channel in western Cameron Parish, Louisiana.  The Sabine Pass LNG terminal has regasification and send-out capacity of 4.0 billion cubic feet per day (Bcf/d) and storage capacity of 16.9 billion cubic feet equivalent (Bcfe).

Under the terms of the agreement Total has agreed to purchase 91,250,000 MMBtu of LNG annually plus 13,500,000 MMBTU of seasonal LNG volumes upon the commencement of train five operations.  These volumes represent approximately 2.0 million tonnes per annum ("mtpa") of the approximately 4.5 mtpa of nominal capacity of train five being developed at Sabine Liquefaction.

Sabine Liquefaction is currently developing five liquefaction trains adjacent to the Sabine Pass LNG terminal.  The first two trains are under construction and the third and fourth trains are expected to commence construction in 2013.  As previously announced, a partial assignment agreement was entered into between Sabine Liquefaction and Total, allowing Sabine Liquefaction to gain access to services under Total's terminal use agreement with Sabine Pass LNG, L.P., including Total's berthing and storage capacity, making further expansion of the LNG export capabilities at the Sabine Pass LNG terminal possible. 

Under the SPA, Total will purchase LNG on an FOB basis, under which LNG will be loaded onto Total's vessels, for a purchase price indexed to the monthly Henry Hub price plus a fixed component.  The SPA has a term of twenty years commencing upon the date of first commercial delivery for train five, and an extension option of up to ten years.  Deliveries from train five are expected to occur as early as 2018. 
 

Maritime Reporter October 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Contracts

EU Regs on Ship CO2 Reporting Complicates IMO Agreement

ICS Concerned that EU will Preempt IMO CO2 Negotiations.   The global trade association for shipowners – the International Chamber of Shipping (ICS) – is disappointed

Asia VLCC Rates Could Could Climb Even More

Owners see rates climb by nearly $22,000 per day; Rates could peak as more tonnage comes free. Rates for very large crude carriers (VLCCs) on key Asian routes

New Players in Singapore Markets in OW's Absence

The downfall of a leading marine fuel supplier that prompted sellers to tighten credit terms in Singapore is skewing the post-OW Bunker jostle for market share

Ports

New Players in Singapore Markets in OW's Absence

The downfall of a leading marine fuel supplier that prompted sellers to tighten credit terms in Singapore is skewing the post-OW Bunker jostle for market share

PSA Chairman Receives Belgium Award

On 27 November 2014, PSA Group Chairman Fock Siew Wah was conferred the national distinction ‘Commander of the Order of the Crown’ from His Majesty King Philippe of Belgium for his merit,

Fednav Celebrates Anniversary Trio in Cleveland

Fednav Limited held a reception on board one of its vessels, the Federal Mayumi, at the Port of Cleveland yesterday to celebrate a trio of anniversaries: the 70th

LNG

World’s First LNG-Ready Ultra Large Container Ship Named

The race is on in global maritime circles to be the “world’s first” in every aspect of environmental friendliness, particularly in regards to the incorporation of LNG as fuel onboard commercial ships.

ClassNK Approves Niigata Dual-fuel Engine Design

Classification society ClassNK has granted approval to the design of the new 28AHX-DF dual-fuel engine developed by Niigata Power Systems Co., Ltd. The new engine

Massive LNG Absorber Shipped to Malaysia

Successful transport of 1,480t absorber for biggest LNG plant worldwide in Malaysia.   1,480 tons and a high center of gravity made the transport of an absorber

 
 
Maritime Contracts Maritime Standards Naval Architecture Navigation Pod Propulsion Port Authority Ship Electronics Shipbuilding / Vessel Construction Sonar Winch
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1956 sec (5 req/sec)