Galp has signed a sales and purchase agreement with Cheniere Marketing (Cheniere) for access to US LNG.
It includes a 20-year 0.5 mtpa delivery contingent to final investment decision (FID) of the second train of Sabine Pass Liquefaction Expansion Project, currently under development.
The agreement also includes access to a limited number of early cargoes, from 2027 and up to the start of the second train. Galp’s volumes will be purchased on a FOB basis and priced indexed to Henry Hub plus a fixed liquefaction fee.
“This agreement further enhances Galp’s LNG sourcing basket with access to competitive US volumes, adding flexibility and diversity to its portfolio,” according to a statement.
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