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Home > News & Events > CPC Corporation, Taiwan (CPC) and the US-based Cheniere Energy, Inc. (Cheniere) signed a Heads of Agreement (HOA) for a 25-year LNG sales and purchase cooperation.

CPC Corporation, Taiwan (CPC) and the US-based Cheniere Energy, Inc. (Cheniere) signed a Heads of Agreement (HOA) for a 25-year LNG sales and purchase cooperation.

CPC Corporation, Taiwan (CPC) and the US-based Cheniere Energy, Inc. (Cheniere) signed a Heads of Agreement (HOA) for a 25-year LNG sales and purchase cooperation.

2 July 2018

 

CPC and Cheniere exchanged the executed HOA for a supply of 2 million tonnes per annum (MTPA) in Washington DC on 20th June. The HOA was signed by Ms Jane Liao, CEO of Natural Gas Business, on behalf of CPC, and Mr. Feygin, Executive Vice President, on behalf of Cheniere. The ceremony was witnessed by Mr Fusco, President of Cheniere, and Mr Tai, Chairman of CPC. The officers from Taipei Economic and Cultural Representative Office in the US and Bureau of Foreign Trade, MOEA, also attended at the event.
 

CPC pointed out, the agreement would strengthen CPC’s cooperation with Cheniere with regards to its development of LNG liquefaction and export projects in North America. Amid Minister Deng Chen-Chung leads Taiwan's Delegation for Select USA in Washington DC, this 25-year agreement symbolize not just the beginning of long-term collaboration between Cheniere and CPC, but also a crucial step further strengthening the trade relationship between US and Taiwan.
 

Cheniere, a pioneer and the current largest exporter of US LNG, owns and operates the Sabine Pass liquefaction terminal in Louisiana, currently the largest such facility to export U.S. LNG overseas. Cheniere is also building 2 liquefaction trains at its Corpus Christi LNG export facility in Texas, and has recently made a final investment decision (FID) on the construction of a third liquefaction train at such terminal.
 

In the LNG industry, an executed HOA generally represents that the Buyer and the Seller have reached an agreement on key terms. CPC and Cheniere will continue negotiations towards an LNG sales and purchase agreement over the coming period.