Glencore and Cheniere Sign Long-Term LNG Sale and Purchase Agreement

Baar, Switzerland
25 October 2021

Glencore is pleased to announce that one of its subsidiaries and Cheniere Marketing, LLC (“Cheniere Marketing”) have entered a binding liquefied natural gas (“LNG”) sale and purchase agreement (“SPA”). 

The SPA establishes the key commercial terms for the long–term purchase of approximately 0.8 million tonnes per annum of LNG on a free-on-board basis for a term of approximately 13 years beginning in April 2023. The purchase price for LNG under the SPA is indexed to the Henry Hub price, plus a fixed liquefaction fee. 

Alex Sanna, Head of Oil Marketing, Glencore, commented:

“We are pleased to partner with Cheniere, one of the World’s leading LNG providers. LNG represents one of our division’s key strategic pillars and this long-term agreement is a testament of our intention to continue to grow the business.”  

For further information please contact:

Investors

Martin Fewings    
t: +41 41 709 28 80    
m: +41 79 737 56 42    
martin.fewings@glencore.com

Media

Charles Watenphul    
t: +41 41 709 24 62    
m: +41 79 904 33 20    
charles.watenphul@glencore.com

Glencore LEI: 2138002658CPO9NBH955

Notes for Editors

Glencore is one of the world’s largest global diversified natural resource companies and a major producer and marketer of more than 60 responsibly-sourced commodities that advance everyday life. The Group's operations comprise around 150 mining and metallurgical sites and oil production assets.

With a strong footprint in over 35 countries in both established and emerging regions for natural resources, Glencore's industrial activities are supported by a global network of more than 30 marketing offices. Glencore's customers are industrial consumers, such as those in the automotive, steel, power generation, battery manufacturing and oil sectors. We also provide financing, logistics and other services to producers and consumers of commodities. Glencore's companies employ around 135,000 people, including contractors.

Glencore is proud to be a member of the Voluntary Principles on Security and Human Rights and the International Council on Mining and Metals. We are an active participant in the Extractive Industries Transparency Initiative. Our ambition is to be a net zero total emissions company by 2050.

Disclaimer
The companies in which Glencore plc directly and indirectly has an interest are separate and distinct legal entities. In this document, “Glencore”, “Glencore group” and “Group” are used for convenience only where references are made to Glencore plc and its subsidiaries in general. These collective expressions are used for ease of reference only and do not imply any other relationship between the companies.  Likewise, the words “we”, “us” and “our” are also used to refer collectively to members of the Group or to those who work for them. These expressions are also used where no useful purpose is served by identifying the particular company or companies.