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|Cheniere and GAIL Celebrate Commencement of 20-year LNG Contract|
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GAIL cargo loading at
The ship will set sail after today’s ceremony to mark the occasion at
The SPA, which was signed in December of 2011, commenced on March 1, 2018. Under the terms of the SPA, Cheniere shall sell and make available for delivery to GAIL approximately 3.5 million tonnes of LNG per year.
“The commencement of this agreement marks the start of a long and productive relationship between Cheniere and GAIL,” said Mr. Fusco. “India remains an important market for LNG, and one that we hope will continue to show signs of growth. We look forward to decades of mutually beneficial cooperation between Cheniere and GAIL, the leading natural gas company of India.”
“GAIL is one of the foundation customers of Cheniere having signed the contract in 2011. With supplies commencing from the US, GAIL will have a diversified portfolio both on price indexation and geographical locations,” said Mr. Tripathi. “This long term agreement would go a long way in strengthening the relationship between GAIL and Cheniere and reinforcing India-US trade ties,” he added.
GAIL is India’s leading natural gas company with diversified interests
across the natural gas value chain of trading, transmission, LPG
production & transmission, LNG re-gasification, Petrochemicals,
Cheniere Energy, Inc. is the leading exporter of U.S. liquefied natural
gas. Cheniere is currently operating and constructing its Sabine
Pass LNG facility in Louisiana and is constructing a second liquefaction
facility near Corpus Christi,
This press release contains certain statements that may include “forward-looking statements” within the meanings of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. All statements, other than statements of historical or present facts or conditions, included herein are “forward-looking statements.” Included among “forward-looking statements” are, among other things, (i) statements regarding Cheniere’s business strategy, plans and objectives, including the development, construction and operation of liquefaction facilities, (ii) statements regarding expectations regarding regulatory authorizations and approvals, (iii) statements expressing beliefs and expectations regarding the development of Cheniere’s LNG terminal and pipeline businesses, including liquefaction facilities, (iv) statements regarding the business operations and prospects of third parties, (v) statements regarding potential financing arrangements and (vi) statements regarding future discussions and entry into contracts. Although Cheniere believes that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. Cheniere’s actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in Cheniere’s periodic reports that are filed with and available from the Securities and Exchange Commission. You should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Other than as required under the securities laws, Cheniere does not assume a duty to update these forward-looking statements.
Cheniere Energy, Inc.