Cheniere Energy Inc. has signed a long-term sales and purchasing agreement with Korea Southern Power Co. Ltd (KOSPO) that could eventually help underpin its proposed expansion of Sabine Pass LNG.

Earlier in the month, Cheniere management told investors during a first quarter call it had secured a more than 20-year deal with an Asian customer for 0.4 million metric tons/year (mmty) of offtake from the first train of its 20 mmty expansion project.

On Tuesday, the firm revealed KOSPO would be the offtaker and Cheniere would begin delivering smaller annual volumes prices to the spot market as soon as 2024. By 2027, the full annual volume of 0.4 mmty would be delivered ex-ship at a price linked to Henry Hub plus a liquefaction fee until 2046. The deal is subject to a positive final...