Freeport LNG Affiliate and Sumitomo Enter Into HOA
Posted on Sep 7, 2018 in Liquefaction, LNG Exports, Markets and Competition | Comments Off on Freeport LNG Affiliate and Sumitomo Enter Into HOA
FLNG Liquefaction 4, LLC, a wholly owned subsidiary of Freeport LNG Development, L.P., and Sumitomo Corporation of Americas (SCOA) jointly announced that they have entered into a binding Heads of Agreement (HOA) for 2.2 million tons per year of LNG. Under the HOA, SCOA has agreed to negotiate for a 20-year liquefaction tolling agreement (LTA). The LTA is expected to start in 2023 upon the commencement of commercial operations of Train 4 of Freeport LNG’s liquefaction and export facility under construction on Quintana Island near Freeport, Texas.