Cheniere LNG and PPM Energy Reach Agreement
Cheniere LNG Marketing has signed a 10-year deal with Scottish Power in which Cheniere will supply up to 600,000 MMBtus of natural gas per day to PPM Energy, a subsidiary of Scottish Power. Under the agreement, PPM also will receive an unspecified quantity of LNG that Cheniere obtains through firm supply contracts at its import terminals in the Gulf of Mexico. “PPM’s network of storage capacity and its natural gas marketing platform are assets that complement Cheniere’s LNG receiving network and Cheniere LNG Marketing’s LNG procurement business,” Cheniere LNG marketing president Keith Meyer said. Cheniere currently holds a 30% limited partner interest in the Freeport LNG terminal facility and has three other LNG platforms under development in the Gulf of Mexico where it has 100% ownership. Terry Hudgens, PPM’s CEO, said, “PPM considers this an important strategic relationship that links its growing gas storage supply and marketing business to Cheniere’s leading LNG terminal business.” The news release is here.