- Cheniere Energy (LNG) +2.7% premarket after agreeing to sell 400K metric tons/year of liquefied natural gas to Spanish power company Iberdrola (IBDRY, IBDSF) upon commencement of operations of Train 1 of the LNG export facility being developed near Corpus Christi, Tex., and increasing to 800K metric tons/year upon commencement of Train 2.
- The agreement is for 20 years beyond the date of first commercial delivery of the second train, with an extension option of up to 10 years; deliveries from Train 2 are expected to occur in 2019.
- The Corpus Christi Liquefaction Project is being designed and permitted for up to three trains, with aggregate design production capacity of 13.5M metric tons/year of LNG.
- Iberdrola says the deal is worth $5.6B and will allow it to fulfill its long-term fuel needs for gas generation plants in Spain and Britain, where it is also a major operator.
From other sites
at MarketRealist.com (Apr 7, 2015)
at MarketRealist.com (Mar 16, 2015)
at Nasdaq.com (Mar 5, 2015)
at Nasdaq.com (Feb 11, 2015)
at Nasdaq.com (Jan 28, 2015)
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