Glencore is pleased to announce that one of its subsidiaries and Cheniere Marketing have entered a binding liquefied natural gas sale and purchase agreement.

The SPA establishes the key commercial terms for the long–term purchase of approximately 0.8 million tonnes per annum of LNG on a free-on-board basis for a term of approximately 13 years beginning in April 2023. The purchase price for LNG under the SPA is indexed to the Henry Hub price, plus a fixed liquefaction fee.

Alex Sanna, Head of Oil Marketing, Glencore, commented:

“We are pleased to partner with Cheniere, one of the World’s leading LNG providers. LNG represents one of our division’s key strategic pillars and this long-term agreement is a testament of our intention to continue to grow the business.”