China’s Foran Energy Group is to purchase 26 LNG cargoes over the next five years from US LNG exporter Cheniere Energy.
A Foran company signed an agreement with a Cheniere subsidiary at the third China International Import Expo in Shanghai, the Foshan-based LNG producer and distributor said in a statement.
Details of the deal will be unveiled by 31st December, it added.
China has promised to increase its purchasing of US-produced LNG as part of a trade agreement between the two countries signed in January.
The price will be based on the Henry Hub index on the shipping date, plus a fixed fee.
Elsewhere, early last week, trading house Vitol placed the best offers for four of six LNG cargoes sought by Pakistan for December, according to newswires.
Vitol offered 16.9720%, 16.5513%, 15.9759% and 15.8761% of Brent crude price - the slope rate - for four deliveries in December, a source at Pakistan LNG Limited told Reuters.
The other two cargoes went to Trafigura and Socar, which offered Brent crude slope rates of 16.9870% and 16.8403%, respectively.
Slope rates provide a price indication for the spot LNG market.
The delivery windows for Vitol's shipments were 13th- 14th, 18th-19th, 24th -25th and 30th -31st December. Socar and Trafigura windows were 3rd - 4th and 8th - 9th December.
Last month, Pakistan invited bids for a record six LNG cargoes from the spot market for December delivery, as authorities predicted a widening of the gap between demand and supply of gas this winter.
The country has a 15-year LNG purchase deal with Qatar to buy 3.75 mill tonnes of LNG per year but it regularly turns to the spot market.
Pakistan also has a five-year import deal with commodity trader Gunvor and a 15-year agreement with Eni, Reuters said.
Elsewhere, Gail (India) was reported to have issued a tender offering two LNG cargoes to load in the US and is also seeking two cargoes for delivery into India.
Gail offered the two US cargoes ex Cove Point on a free-on-board (FOB) basis between 4th and 6th January and 11th to 13th February, respectively.
The Indian energy giant is also seeking two cargoes for delivery to Dabhol between 7th and 15th January and 4th to 10th of February, respectively, on a delivered ex-ship (DES) basis sources told Reuters.
The tender was due to close on 5th November.
Gail has signed 20-year deals to buy 5.8 mill tonnes a year of US LNG, split between Cove Point and Cheniere's Sabine Pass.