Cheniere and Gaz de France Enter Sale and Purchase, Option Agreements
Posted on Apr 27, 2007 in Markets and Competition, Regas Terminals & Capacity | Comments Off on Cheniere and Gaz de France Enter Sale and Purchase, Option Agreements
Cheniere Marketing and Gaz de France International Trading and Marketing S.A.S. (“GDF”) have signed a pair of option agreements as well as a 2008 LNG sale and purchase agreement (“SPA”). The 15-year option agreements give Cheniere the option to sell one cargo of LNG per month ex-ship at NBP based prices to GDF at the Isle of Grain terminal, and give GDF the option to sell one cargo of LNG per month ex-ship at NYMEX-based prices to Cheniere at the Sabine Pass terminal. Under the SPA, GDF will sell as many as seven cargos ex-ship at NYMEX-based prices to Cheniere in 2008. Business Wire carries the companies’ press release and Reuters provides additional coverage.