Origin Energy Limited (Origin) today announced it had signed an LNG Sale and Purchase Agreement (SPA) with ENN LNG Trading Company Limited (ENN) for the delivery of liquefied natural gas to China. The SPA follows a non-binding heads of agreement announced between Origin and ENN in March 2016.
Under the SPA, Origin will supply 280,000 tonnes of LNG per year for a period of five years. By mutual agreement, the parties have the ability to extend the supply period by an additional five years. Deliveries of LNG under the SPA are expected to begin in calendar year 2018 or 2019 following completion of ENN’s Zhoushan receiving terminal in Zhejiang province, China.
Consistent with the heads of agreement, the SPA provides Origin with the flexibility to supply from its portfolio.
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