China's city gas distributor Foran Energy announced on October 30 that it will sign a 20-year LNG purchase agreement with US LNG supplier Cheniere Marketing LLC.
Under the agreement, Foran will purchase around 860,000 tonnes/year of LNG from Cheniere Marketing, with delivery starting from 2028. The pricing is based on Henry Hub on the New York Mercantile Exchange, in addition to liquefaction and transportation costs.
It was learned from OilChem that, Foran has signed long-term LNG purchase agreements with Cheniere Energy, BP and Sinochem Singapore, respectively. In addition, Foran signed a PNG purchase agreement with CNOOC in 2022, for a total delivery of 2.94 billion cubic meters in five years.
Foran Energy's Sale and Purchase Agreement
|
Supplier |
Buyer |
From |
To |
Period (yrs) |
Quantity (kt) |
|
Sinochem International Oil (Singapore) |
Foran Energy |
2023/1/1 |
2039/12/31 |
17 |
300 |
|
BP |
Foran Energy |
2023/4/1 |
2032/12/31 |
10 |
100 |
|
Cheniere Energy |
Foran Energy |
2023/1/1 |
2042/12/31 |
20 |
300 |
|
Cheniere Energy |
Foran Energy |
2028 |
2048 |
20 |
860 |
Source: OilChem
Foran Energy Group was founded in 1993 and is headquartered in Foshan city, South China's Guangdong province. The company is primarily engaged in the transmission and distribution of natural gas in Guangdong province and even southern China. The company was listed on the Shenzhen Stock Exchange on November 22, 2017.
Written by Sunny Fang, fss@oilchem.net
Edited by Aggie Hu, huchenying@mysteel.com
