Cheniere Energy’s subsidiary, Cheniere Marketing, has entered into a long-term integrated production marketing (IPM) agreement with Canadian Natural Resources.
The deal, which is expected to start in 2030, involves the sale of 140 billion metric British thermal units per day of natural gas by a subsidiary of Canadian Natural Resources over a 15-year period.
Under the terms of the agreement, the liquefied natural gas (LNG) associated with this gas supply, approximately 850,000 tonnes per annum (tpa), will be marketed by Cheniere Marketing.
The pricing for the natural gas will be linked to the Platts Japan Korea Marker, with deductions for fixed LNG shipping costs and a fixed liquefaction fee.
The execution of the IPM agreement is contingent upon Cheniere’s positive final investment decision regarding the Sabine Pass Liquefaction Expansion Project.
This project is expected to have a total production capacity of up to 20 million tonnes per annum of LNG, including estimated debottlenecking opportunities.
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By GlobalDataIn March, Cheniere Energy announced the substantial completion of Train 1 at the Corpus Christi Stage 3 Liquefaction Project in Texas, US.
This milestone signifies the handover of Train 1 and its associated systems from Bechtel Energy, the project’s engineering, procurement and construction partner, to Cheniere.
In October 2024, Canadian Natural Resources reached a definitive agreement to acquire Chevron Canada’s assets for $6.5bn (C$8.86bn).
The deal included a 20% non-operated interest in the Athabasca Oil Sands Project and a 70% operated interest in the Duvernay shale formation, along with associated assets, all situated in Alberta, Canada.
