Cheniere Energy Inc. said Thursday it has extended a natural gas supply agreement with EOG Resources Inc., concluding the commercial deals it needs to move ahead this summer with a final investment decision (FID) to expand its Corpus Christi liquefied natural gas (LNG) export terminal in South Texas. 

The expanded integrated production marketing (IPM) agreement extends the term and triples the volume of LNG associated with the gas that EOG would supply for Cheniere to market overseas. EOG would provide 720,000 MMBtu/d to the Corpus Christi Stage 3 expansion project once it starts up. Houston-based EOG would earn prices linked to both Henry Hub and the Japan-Korea Marker (JKM).

“The project is well positioned to be sanctioned,” said CEO Jack Fusco. The expansion at Corpus...