Equinor and Cheniere have signed a new 15-year sales and purchase agreement (SPA) to allow Equinor to purchase approximately 1.75 million tonnes per annum (“mtpa”) of LNG from Cheniere Marketing on a free-on-board basis for a term of approximately 15 years from the commencement of delivery of the total amount of LNG volumes.

The volume of LNG that Equinor will export from Cheniere’s LNG facilities on the American Gulf coast will double thanks to this new SPA.

“I am very pleased that we have entered into another long-term agreement with Cheniere. Europe will need natural gas to ensure flexible energy on demand to support the build-out of more intermittent renewables and LNG will play an important role. In other markets, for example in Asia, demand for LNG is expected to grow as a solution to energy security as well as lower emissions. Equinor has an ambition to strengthen its role as a leading supplier of natural gas and with our supply agreements with Cheniere we are expanding our global position,” said Helge Haugane, Equinor’s senior vice president for Gas & Power.