Under the agreement, JP Morgan gains capacity rights at Sabine Pass LNG terminal in Louisiana and a host of business opportunities originated through Cheniere’s LNG marketing team. Cheniere, which owns and operates the Sabine Pass terminal, is also expected to benefit from JP Morgan’s client relationships and financial expertise.
Davis Thames, president of Cheniere Marketing, said: “We are excited to broaden our relationship with JP Morgan and provide them with services necessary to successfully expand their capabilities in the global LNG markets.
“We believe this arrangement allows us to source LNG with the support of a strong balance sheet and to utilize our capacity at Sabine Pass and our network of relationships in the most effective way. The combination of our LNG assets and know-how and JP Morgan’s extensive global client franchise will enhance opportunities for both Cheniere and JP Morgan, enabling us to provide more services to our LNG suppliers and gas customers.”
