The total commitment from Chevron is 300,000 tons per year.
Dallas – (Business Wire) – Energy Transfer LP (NYSE:ET) today announced its subsidiary, Energy Transfer LNG Export LLC (Energy Transfer LNG). Following the first 2.0 MTPA contract signed in December 2024, a 20-year contract of 1.0 million tonnes per year (MTPA) increases the total contract volume from Chevron’s energy transfer LNG to 3.0 MTPA.
Like the first SPA, LNG is fed to Chevron on a free-on-board (FOB) basis, with the purchase price consisting of fixed liquefaction fees and gas supply components indexed on the Henry Hub benchmark. The SPA-based energy transfer LNG obligation is subject to energy transfer LNG with positive final investment decisions (FIDs) and satisfaction with other precedents.
“This agreement marks a significant milestone in the growth of our partnership with Chevron, highlighting the growing global demand for reliable long-term LNG supply.” “Energy Transfer’s strategic infrastructure and connection to major production basins ensures that Lake Charles LNG is poised to become the best export facility, providing long-term value for our partners and industry.”
Freeman Shaheen, president of Chevron Global Gas, said: “Because of our diverse, reliable and flexible supply network, we are committed to providing affordable, reliable, cleaner energy to meet the global demand and evolving needs of our customers.”
The latest spa with chevrons is based on the energy transfer momentum in ensuring Lake Charles LNG’s long-term LNG commitment. The recent contracts also include a spa with Midoceaan Energy (HOA) at about 5.0 MTPA and a spa with Kyushu Electric Power Company at 1.0 MTPA.
The Lake Charles LNG export facility will be built on the existing Brownfield Regasification Facility site and will utilize four existing LNG storage tanks, two deep sea berths and other LNG infrastructure. Lake Charles LNG also benefits from the direct connections of energy transfers to existing trunkline pipeline systems, providing connectivity to multiple internal and interstate pipelines. These pipelines allow access to multiple natural gas production basins, including Haynesville, Permian and Marcellus Shale. Energy Transfer is one of North America’s largest and most diverse midstream energy companies, with a strategic footprint across all of the major US production basins.
About energy transfer
Energy Transfer LP (NYSE:ET) owns and operates one of the largest and most diverse portfolios of energy assets in the United States, with over 130,000 miles of pipeline and associated energy infrastructure. Energy Transfer’s strategic network spans 44 states with assets in all of the major US production basins. Energy Transfer is a public limited partnership with core operations, including midstream complementary natural gas, intrastate and interstate transport and storage assets. Crude oil, natural gas liquids (“NGL”) and refined product transport and termination assets. and NGL fractions. Energy Transfer also owns Lake Charles LNG Company, general partner profits, incentive distribution rights, and Sunoco LP’s outstanding common units (NYSE: SUN), as well as general partner profits and US Compression Partner LP (NYSE: USAC). For more information, please visit the Energy Transfer LP website at www.energytransfer.com.
A positive statement
This news release may contain certain forward-looking statements that are forward-looking statements as defined by federal law. Such forward-looking statements are subject to a variety of known and unknown risks, uncertainties, and other factors that are difficult to predict. Many of them go beyond (i) Energy Transfer’s ultimate financial investment decision on Lake Charles LNG facilities. The remaining amount of LNG offtake depends on supply and demand factors that influence the price of LNG in foreign markets, and (iv) on the financial viability of LNG export projects that rely on many other factors. An extensive list of additional factors that may affect future outcomes of LNG export projects and energy transfers is discussed in the Annual Energy Transfer Report on Form 10-K and other documents filed from time to time with the Securities and Exchange Commission. The Partnership is not obligated to update or amend forward-looking statements to reflect new information or events.
The information contained in this press release is available at our website www.energytransfer.com.
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