Cheniere inks natural gas supply deal with ARC Resources
(Reuters) - Cheniere Energy has signed a natural gas supply deal with Canada-based ARC Resources , the companies said on Wednesday, as the U.S. liquefied natural gas exporter ramps up its efforts to commercialize the expansion of its Sabine Pass facility.
The companies said ARC Resources would supply 140,000 million British thermal units per day of natural gas to Cheniere for 15 years, starting after the commercial operations of the first liquefaction train had begun at the Sabine Pass Stage 5 expansion project.
The first train is expected to come online by 2029.
The Canadian energy firm would receive gas prices tied to the Dutch Title Transfer Facility benchmark, the companies said.
Cheniere said it has entered into another agreement to supply 0.85 million tonnes of liquefied natural gas (LNG) per annum to Austria's OMV AG.
U.S. LNG exports to Europe have soared since last year after Russia's invasion of Ukraine sparked fears about energy security in the continent.
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