- Supply of up to 12 LNG cargo ships per year beginning in 2029
OMV announced today the signing of a long-term sale and purchase agreement (SPA) with US-based company Cheniere Energy, Inc. covering the supply of up to 850,000 tons per annum of liquefied natural gas (LNG) beginning in late 2029. Under the terms of the agreement, Cheniere will provide OMV up to 12 cargoes per year of LNG, which will be received and re-gasified through the Gate LNG Terminal in Rotterdam, the Netherlands, where OMV holds long term regasification capacities. The contractual price for LNG is linked to the TTF index1.
Berislav Gaso, Executive Vice President for OMV Energy business, said: “OMV has made another significant step in diversifying and safeguarding alternative non-Russian gas supply sources for its customers in the long-term. We are delighted to be working together with Cheniere, the largest LNG provider in the US. This contract underlines our prudent strategy of taking action in the face of changing market dynamics.”
“This long-term agreement between Cheniere and OMV will enhance Cheniere’s ability to supply LNG to Europe, where energy security has never been more important,” said Anatol Feygin, Cheniere Executive Vice President and CCO. “Cheniere is pleased to deepen its relationship further since we first supplied OMV in 2018.”
1 TTF (Title Transfer Facility) is the main reference virtual market for gas trading in Europe, which is based in Amsterdam, the Netherlands
Cheniere Energy, Inc. is the leading producer and exporter of 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 total production capacity of approximately 45 mtpa of LNG in operation and an additional 10+ mtpa of expected production capacity under construction. 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, 2023, filed with the Securities and Exchange Commission.
At OMV, we are re-inventing essentials for sustainable living. OMV is transitioning to become a leading sustainable fuels, chemicals and materials company with a focus on circular economy solutions, while operating today across three integrated business segments of Energy, Fuels & Feedstock, and Chemicals & Materials. By gradually switching over to low-carbon businesses, OMV is striving to achieve net zero by latest 2050. The company achieved revenues of EUR 62 billion in 2022 with a diverse and talented workforce of around 22,300 employees worldwide. OMV shares are traded on the Vienna Stock Exchange (OMV) and as American Depository Receipts (OMVKY) in the U.S. Further information at www.omv.com