Cheniere Energy announced that its subsidiary, Cheniere Marketing, has entered into a liquefied natural gas (LNG) sale and purchase agreement (SPA) with POSCO International Corp., a subsidiary of POSCO Holdings, South Korea’s largest steelmaker and owner of South Korea’s first private LNG terminal.
Under the SPA, POSCO International has agreed to purchase approximately 0.4 million tons per annum (mtpa) of LNG from Cheniere Marketing on a free-on-board basis for a term of 20 years beginning in late 2026. The purchase price for LNG under the SPA is indexed to the Henry Hub price, plus a fixed liquefaction fee.
“We are pleased to enter into this long-term LNG contract with POSCO International, a key player in the global industrial complex, and we look forward to a successful, long-term relationship with POSCO International as a customer,” said Jack Fusco, president and CEO at Cheniere. “The signing of this SPA further evidences the growing demand for long-term L
