Cheniere Energy Inc and Cheniere Energy Partners LP said on Wednesday that Sabine Pass Liquefaction Stage V LLC (“SPL Stage 5”) had entered into a long-term Integrated Production Marketing gas supply agreement with ARC Resources U.S. Corp – a subsidiary of ARC Resources Ltd.
Under the agreement, ARC Resources will sell 140,000 MMBtu per day of natural gas to SPL Stage 5 for a period of 15 years, starting with commercial operations of the first train of the Sabine Pass Liquefaction Expansion Project.
”This is the second long-term IPM agreement between Cheniere and ARC Resources, and further progresses the commercialization of the SPL Expansion Project. This agreement will enable Cheniere to deliver increased quantities of Canadian natural gas to Europe, where energy security has never been more important,” Jack Fusco, Cheniere’s President and Chief Executive Officer, said in a press release.
”We are pleased to build upon our existing long-term relationship with ARC Resources, and further demonstrate Cheniere’s ability to construct innovative solutions that help meet the needs of customers and counterparties along the LNG value chain while delivering value to our stakeholders,” the CEO added.
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