Cheniere inks natural gas supply deal with ARC Resources

ARC Resources

29/11/2023 15:51

Nov 29 (Reuters) - Cheniere Energy  LNG.A  has signed a
natural gas supply deal with Canada-based ARC Resources
 ARX.TO , the companies said on Wednesday, as the U.S. liquefied
natural gas exporter ramps up its efforts to commercialize the
expansion of its Sabine Pass facility.   
    The companies said ARC Resources would supply 140,000
million British thermal units per day of natural gas to Cheniere
for 15 years, starting after the commercial operations of the
first liquefaction train had begun at the Sabine Pass Stage 5
expansion project. 
    The first train is expected to come online by 2029.
    The Canadian energy firm would receive gas prices tied to
the Dutch Title Transfer Facility benchmark, the companies said.
    Cheniere said it has entered into another agreement to
supply 0.85 million tonnes of liquefied natural gas (LNG) per
annum to Austria's OMV AG  OMVV.VI . 
    U.S. LNG exports to Europe have soared since last year after
Russia's invasion of Ukraine sparked fears about energy security
in the continent. 
    

 (Reporting by Sourasis Bose in Bengaluru; Editing by Shweta
Agarwal)
 ((Sourasis.Bose@thomsonreuters.com;))