C0801: Cheniere and Sinochem Group, 1.8 mtpa, Jul 2022- Dec 2039

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Cheniere and Sinochem Group Sign Long-Term LNG Sale and Purchase Agreement

https://lngir.cheniere.com/news-events/press-releases/detail/234/cheniere-and-sinochem-group-sign-long-term-lng-sale-and

NOVEMBER 05, 2021 8:00AM EDT

HOUSTON--(BUSINESS WIRE)-- Cheniere Energy, Inc. (“Cheniere”) (NYSE American: LNG) announced today that its subsidiary, Cheniere Marketing, LLC (“Cheniere Marketing”), has entered into a binding liquefied natural gas (“LNG”) sale and purchase agreement (“SPA”) with Sinochem Group Co., Ltd (“Sinochem Group”).

Under the SPA, Sinochem Group has agreed to purchase an initial volume of approximately 0.9 million tonnes per annum (“mtpa”) beginning in July 2022, which increases to 1.8 mtpa. The SPA has a term of approximately 17.5 years and Sinochem Group will purchase the LNG volumes on a free-on-board basis. The purchase price for LNG under the SPA is indexed to the Henry Hub price, plus a fixed liquefaction fee.

“We are pleased to announce this long-term LNG contract with Sinochem Group, one of China’s leading state-owned energy companies, and to further Cheniere’s role in providing clean, affordable and reliable energy to the Chinese market for many years to come,” said Jack Fusco, Cheniere’s President and Chief Executive Officer. “This SPA once again demonstrates Cheniere’s ability to tailor solutions in order to meet the needs of LNG consumers worldwide, which is enabled by the scale of our platform and the reliability of our operations. In addition, the SPA further reinforces our commercial momentum, and once again confirms the strength of the global LNG market and the global call for investment in additional LNG capacity, including our Corpus Christi Stage 3 project.”

The Corpus Christi Stage 3 project is being developed to include up to seven midscale liquefaction trains with a total expected nominal production capacity of over 10 mtpa. It has received all necessary regulatory approvals.

About Cheniere

Cheniere Energy, Inc. is the leading producer and exporter of liquefied natural gas (LNG) in the United States, reliably providing a clean, secure, and affordable solution to the growing global need for natural gas. Cheniere is a full-service LNG provider, with capabilities that include gas procurement and transportation, liquefaction, vessel chartering, and LNG delivery. Cheniere has one of the largest liquefaction platforms in the world, consisting of the Sabine Pass and Corpus Christi liquefaction facilities on the U.S. Gulf Coast, with expected total production capacity of approximately 45 million tonnes per annum of LNG operating or commissioning. Cheniere is also pursuing liquefaction expansion opportunities and other projects along the LNG value chain. Cheniere is headquartered in Houston, Texas, and has additional offices in London, Singapore, Beijing, Tokyo, and Washington, D.C.

For additional information, please refer to the Cheniere website at?www.cheniere.com?and Quarterly Report on Form 10-Q for the quarter ended September 30, 2021, filed with the Securities and Exchange Commission.

About Sinochem Group

Headquartered in Beijing, China, Sinochem Group was founded in 1950. It is a leading integrated operator in the oil and chemicals industry, exerting strong influence in city operations and the non-banking financial services sector. As a market-oriented global conglomerate, Sinochem’s quality products and services are relevant to many aspects of the mass economy and people's well-being. It operates more than 300 subsidiaries around the world. It holds a controlling stake in a number of listed companies, including Sinochem International (600500.SH) and China Jinmao (00817.HK).

Forward-Looking Statements

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 financial and operational guidance, 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, (vi) statements regarding future discussions and entry into contracts, (vii) statements relating to Cheniere’s capital deployment, including intent, ability, extent, and timing of capital expenditures, debt repayment, dividends, and share repurchases, and (viii) statements regarding the COVID-19 pandemic and its impact on our business and operating results. 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.

View source version on businesswire.com:?https://www.businesswire.com/news/home/20211105005171/en/

Cheniere Energy, Inc.

Investors
Randy Bhatia, 713-375-5479

Media Relations
Eben Burnham-Snyder, 713-375-5764

Source: Cheniere Energy, Inc.

Released November 5, 2021

Sinochem Group Signed An LNG SPA with Cheniere Contributing to "Dual Carbon" Targets

https://www.sinochem.com/en/s/17585-49391-155159.html

On 5th November, Sinochem Group entered into a 17.5-year liquefied natural gas ("LNG") sale and purchase agreement ("SPA") with Cheniere Energy, Inc. ("Cheniere"). Under the SPA, Sinochem has agreed to purchase an initial volume of 0.9 million tonnes per annum ("mtpa") beginning in July 2022, which incrementally increases to 1.8 mtpa.

The LNG is currently the best choice for realizing "green and low-carbon development" and the key energy for achieving the goal of "carbon emissions peaking" and "carbon neutrality" ("dual carbon" for short). Currently, there is still a huge gap to meet the strong gas demand in China which will? become the world's largest LNG importer. The purchase of LNG is an important initiative for Sinochem Group, in accordance with the 14th five-year-plan, to ensure safe supply of energy , to pursue transformation and upgrading of the energy industry, and to advance green innovation and development, with a view of working towards the "dual carbon" goal.?

Sinochem Group has been all along adhering to the principle of "In Science We Trust". Underpinned by its rich experience and operation strengths in international trade, based on the overseas trading arms of Sinochem Oil Co., Ltd. which is wholy owned by Sinochem Energy, the company has established close cooperative relations with national oil & gas producers from major production countries as well as international oil majors over the years. Looking forward, Sinochem Group will strive to develop the natural gas business around the world, and to advance the steady growth of its energy business on the path of sustainable development powered by scientific development and innovation.