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Cheniere (LNG) Signs Liquefied Natural Gas Supply Deal With ENN
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Cheniere Energy (LNG - Free Report) , through its wholly-owned subsidiary Cheniere Marketing, signed a sale and purchase agreement (“SPA”) with ENN Natural Gas Co. Ltd to deliver liquefied natural gas in China.
The agreement marks the first collaboration of Cheniere and China-based ENN in the field of liquefied natural gas. Under the SPA, Cheniere will supply 0.9 million tons per annum (Mtpa) of liquefied natural gas on a free-on-board basis to ENN. The deal has a term of 13 years and will be in effect from July 2022.
China is making enormous efforts to achieve net-zero emissions, enhance the natural gas market and accelerate the structural change in energy consumption. Notably, Cheniere has significant advantages on resource production and supply capacity, which fits well with the fast-growing natural gas market in the country. China’s natural gas consumption is expected to reach 550-600 billion cubic meters by 2030.
Further, the agreement is likely to bring Cheniere's Corpus Christi Stage 3 project closer to a final investment decision, which is expected to take place in 2022. The Stage 3 expansion at the Corpus Christi facility in Texas will involve the development of up to seven midscale trains, with an aggregate nominal production capacity of 10 Mtpa. Cheniere expects to increase the total capacity of the Corpus Christi Liquefaction facility to 25 Mtpa.
The latest SPA highlights the strength of the global liquefied natural gasmarket, particularly in China, and Cheniere’s role as a leading global liquefied natural gas supplier. ENN is advancing the use of digital technology to develop a modern energy system and promote intelligent upgrading of the natural gas industry.
The two companies are committed to reaching carbon neutrality, while continue providing support to meet the increasing demand for liquefied natural gas in China. Both companies will establish an alliance to provide customers with high-quality resources and services.
Company Profile
Headquartered in Houston, TX, Cheniere primarily engages in businesses related to liquefied natural gas.
Zacks Rank & Other Stocks to Consider
The company currently carries a Zack Rank #2 (Buy).
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Cheniere (LNG) Signs Liquefied Natural Gas Supply Deal With ENN
Cheniere Energy (LNG - Free Report) , through its wholly-owned subsidiary Cheniere Marketing, signed a sale and purchase agreement (“SPA”) with ENN Natural Gas Co. Ltd to deliver liquefied natural gas in China.
The agreement marks the first collaboration of Cheniere and China-based ENN in the field of liquefied natural gas. Under the SPA, Cheniere will supply 0.9 million tons per annum (Mtpa) of liquefied natural gas on a free-on-board basis to ENN. The deal has a term of 13 years and will be in effect from July 2022.
China is making enormous efforts to achieve net-zero emissions, enhance the natural gas market and accelerate the structural change in energy consumption. Notably, Cheniere has significant advantages on resource production and supply capacity, which fits well with the fast-growing natural gas market in the country. China’s natural gas consumption is expected to reach 550-600 billion cubic meters by 2030.
Further, the agreement is likely to bring Cheniere's Corpus Christi Stage 3 project closer to a final investment decision, which is expected to take place in 2022. The Stage 3 expansion at the Corpus Christi facility in Texas will involve the development of up to seven midscale trains, with an aggregate nominal production capacity of 10 Mtpa. Cheniere expects to increase the total capacity of the Corpus Christi Liquefaction facility to 25 Mtpa.
The latest SPA highlights the strength of the global liquefied natural gasmarket, particularly in China, and Cheniere’s role as a leading global liquefied natural gas supplier. ENN is advancing the use of digital technology to develop a modern energy system and promote intelligent upgrading of the natural gas industry.
The two companies are committed to reaching carbon neutrality, while continue providing support to meet the increasing demand for liquefied natural gas in China. Both companies will establish an alliance to provide customers with high-quality resources and services.
Company Profile
Headquartered in Houston, TX, Cheniere primarily engages in businesses related to liquefied natural gas.
Zacks Rank & Other Stocks to Consider
The company currently carries a Zack Rank #2 (Buy).
Some other top-ranked players in the energy space are Berry Corporation (BRY - Free Report) , Comstock Resources, Inc. (CRK - Free Report) and Eni SpA (E - Free Report) , each currently sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Berry’s earnings for 2021 are expected to surge 321.6% year over year.
Comstock’searnings for 2021 are expected to grow 65.8% year over year.
Eni’s earnings for 2021 are expected to increase 29.5% year over year.