WASHINGTON (dpa-AFX) - EQT Corporation (EQT) Monday said that it has secured 1.0 million tonnes per annum (MTPA) of liquefaction capacity under a 20-year Sale and Purchase Agreement with Commonwealth LNG at their export facility under development on the Gulf Coast near Cameron, Louisiana.
Under the terms of the agreement and consistent with EQT's existing LNG contracts, EQT will purchase LNG on a free-on-board basis at a price indexed to Henry Hub and market and optimize its cargos internationally.
This additional export capacity enables EQT to further expand its domestic direct-to-customer strategy into the global energy markets.
'The signing of this agreement with Commonwealth LNG adds to the momentum we are building in the LNG market and further strengthens EQT's position as a leader connecting U.S. natural gas supply to growing global demand,' said Toby Z. Rice, President and CEO of EQT.
'The agreement with EQT is a strong endorsement of our integrated natural gas platform, featuring a unique wellhead-to-water strategy that meets burgeoning demand for LNG across global markets, while advancing U.S. energy leadership and economic growth,' said Ben Dell, Managing Partner of Kimmeridge and Chairman of Caturus, the parent company of Commonwealth LNG. 'By combining EQT's scale and Commonwealth's efficient modular LNG design, we're delivering a differentiated solution for global energy buyers.'
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