Under the terms of the agreement, EDF will buy LNG upon the commencement of operations of Train 2 of the LNG export facility being developed at near Corpus Christi, Texas.
The LNG will be purchased on a free on board basis for a purchase price indexed to the monthly Henry Hub price plus a fixed component.
The Corpus Christi liquefaction project is permitted for up to three trains, with aggregate design production capacity of 13.5mtpa of LNG.
The SPA term will extend for twenty years beyond the first commercial delivery date of the third train of the Corpus Christi Liquefaction Project, with an extension option of up to 10 years.
Deliveries from Train 3 are scheduled to commence as early as 2019.
Cheniere Energy chairman and CEO Charif Souki said Cheniere Energy completed contracting for the first 2 trains of the Corpus Christi Liquefaction Project and are in negotiating with other counterparties on finalizing additional agreements for Train 3.
"We expect to complete all necessary steps to reach a final investment decision and begin construction by early 2015," Souki added.
