CHENIERE ENERGY, INC.

(LNG)
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Cheniere Strikes Long-Term LNG Supply Deal With South Korea's Posco

05/25/2022 | 06:40am EDT

By Robb M. Stewart


Cheniere Energy Inc. has agreed to a long-term liquefied natural gas supply deal with a subsidiary of South Korean steelmaker Posco Holdings Inc.

The energy company said Posco International Corp. has agreed to buy about 400,000 metric tons of LNG a year for a term of 20 years, beginning in late 2026. The price for the super-chilled gas under the agreement is indexed to the Henry Hub price, plus a fixed liquefaction fee, Cheniere said.

Cheniere's agreement was announced the same day Sempra said it entered a heads of agreement to supply about 2.25 million metric tons a year of liquefied natural gas to German energy company RWE AG, which will come from the first phase of the Port Arthur LNG project being developed in Texas. Phase one of the project is expected to include two liquefaction lines and storage tanks, and facilities able to produce up to about 13.5 million tons a year of LNG.

Cheniere said the supply deal with Posco is subject to a final investment decision to build the Corpus Christi Stage III project, which is being developed to include up to seven midscale liquefaction lines with a total expected nominal production capacity of more than 10 million tons a year.


Write to Robb M. Stewart at robb.stewart@wsj.com


(END) Dow Jones Newswires

05-25-22 0840ET

Stocks mentioned in the article
ChangeLast1st jan.
CHENIERE ENERGY PARTNERS, L.P. 0.53% 45.36 Delayed Quote.6.82%
CHENIERE ENERGY, INC. 0.52% 131.82 Delayed Quote.24.81%
POSCO HOLDINGS INC. 2.10% 243000 End-of-day quote.-11.48%
POSCO INTERNATIONAL CORPORATION 2.05% 19950 End-of-day quote.-11.14%
RWE AG 1.96% 37.53 Delayed Quote.4.76%
S&P GSCI NATURAL GAS INDEX 1.41% 310.7501 Real-time Quote.75.50%
SEMPRA ENERGY 1.34% 152.68 Delayed Quote.12.97%
WTI 0.75% 111.163 Delayed Quote.41.29%
All news about CHENIERE ENERGY, INC.
06/24CHENIERE ENERGY, INC.(NYSEAM : LNG) added to Russell Midcap Value Index
CI
06/24CHENIERE ENERGY, INC.(NYSEAM : LNG) added to Russell Small Cap Comp Value Index
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06/24CHENIERE ENERGY, INC.(NYSEAM : LNG) added to Russell 1000 Value Index
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06/24CHENIERE ENERGY, INC.(NYSEAM : LNG) added to Russell 3000E Value Index
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06/24CHENIERE ENERGY, INC.(NYSEAM : LNG) added to Russell 3000 Value Index
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Financials (USD)
Sales 2022 25 618 M - -
Net income 2022 1 395 M - -
Net Debt 2022 23 996 M - -
P/E ratio 2022 21,7x
Yield 2022 1,07%
Capitalization 33 297 M 33 297 M -
EV / Sales 2022 2,24x
EV / Sales 2023 2,51x
Nbr of Employees 1 550
Free-Float 91,3%
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Number of Analysts 19
Last Close Price 131,02 $
Average target price 167,05 $
Spread / Average Target 27,5%
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Managers and Directors
Jack A. Fusco President, Chief Executive Officer & Director
Zach Davis Chief Financial Officer & Executive Vice President
G. Andrea Botta Chairman
Aaron Stephenson Senior Vice President-Operations
Tom Bullis Chief Administrative Officer & Executive VP
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