EDP agrees supply of natural gas with Cheniere
EDP and Cheniere signed a binding agreement for the supply of 1 bcm of liquefied natural gas (LNG) per year, for a 20 year period, with an extension option for EDP of up to 10 years. EDP expects supplies to occur by 2020, proceeding from Cheniere's Corpus Christi Liquefaction Project in Texas, United States of America.
Pursuant to the terms and for the purposes of article 248 of the Portuguese Securities code, EDP - Energias de Portugal SA ("EDP") is providing the following information to the market:
Today, EDP and Corpus Christi Liquefaction, LLC, a subsidiary of Cheniere Energy, Inc. ("Cheniere"; NYSE MKT: LNG), signed a binding agreement for the supply of 1 bcm of liquefied natural gas (LNG) per year, for a 20 year period, with an extension option for EDP of up to 10 years. EDP expects supplies to occur by 2020, proceeding from the Train 3 of Cheniere's Corpus Christi Liquefaction Project in Texas, United States of America.
The agreement is subject to certain conditions precedent, including but not limited to Corpus Christi Liquefaction, LLC receiving regulatory approvals, securing necessary financing arrangements and making a final investment decision to construct Train 3 of the Corpus Christi Liquefaction Project.
This agreement contributes to cement EDP's position as holder of a portfolio of diversified sources of natural gas, enabling the pursuit of a strategy of enhancing the value of EDP's assets, whether its natural gas fuelled power plants; its portfolio of gas' clients; or the ability to aim at other opportunities in the natural gas' market.
EDP – Energias de Portugal, S.A.
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