LNG

July 2 (LNGJ) - UK utility Centrica welcomed the news that Cheniere Energy has now secured the required regulatory approvals and taken the final investment decision to proceed with the construction of the fifth LNG Train at the Sabine Pass export plant in Louisiana. Centrica entered into an agreement with Cheniere in March 2013 to buy 1.75 million tonnes per annum of LNG for 20 years from the Sabine facility. Jonathan Westby, Global Head of LNG for Centrica, said: "The agreement with Cheniere represents a very significant step forward in Centrica's LNG business. The contract will provide us with an enhanced capability in managing market risk, trading and asset optimisation whilst ensuring a long term secure source of supply. This will further support the growth of our portfolio, placing us in a very strong position to capitalise on further opportunities within the rapidly developing LNG market."