07-01-2014, 01:50 AM
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Cheniere +2.5% to all-time high as Woodside signs for Corpus Christi LNG
10:57 AM ET · LNG
Cheniere Energy (LNG +2.5%) hits a new all-time high after Australia’s Woodside Petroleum (WOPEF, WOPEY) agrees to buy 850K metric tons/year of liquefied natural gas from the second train of LNG's Corpus Christi export project.
The agreement has a 20-year term beginning at the date of first commercial delivery of the second train, with an extension option of up to 10 years; deliveries from Train 2 are expected to occur in 2019.
The Corpus Christi Liquefaction Project is being designed and permitted for up to three trains, with aggregate design production capacity of 13.5M metric tons/year of LNG.