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ARC RESOURCES ANNOUNCES SECOND LONG-TERM NATURAL GAS SUPPLY AGREEMENT WITH CHENIERE
ARC RESOURCES ANNOUNCES SECOND LONG-TERM NATURAL GAS SUPPLY AGREEMENT WITH CHENIERE Can...
About this update from Arc Resources Ltd.
[{"type":"text","content":"\n \n \n \n ARC RESOURCES ANNOUNCES SECOND LONG-TERM NATURAL GAS SUPPLY AGREEMENT WITH CHENIERE\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n Agreement broadens the Company's market diversification with access to\n \n Europe\n \n and TTF-linked pricing\n \n \n \n \n \n CALGARY, AB\n \n \n ,\n \n \n Nov. 29, 2023\n \n \n /CNW/ - (TSX: ARX) ARC Resources Ltd., through its subsidiary ARC Resources U.S. Corp. (collectively, \"ARC\" or the \"Company\"), today announced it has entered into a long-term natural gas supply agreement (\"the Agreement\") with Sabine Pass Liquefaction Stage V, LLC, a subsidiary of Cheniere Energy, Inc. (\"Cheniere\").\n \n \n \n \n \n \n \n \n \n Under the agreement, ARC will supply 140,000 million British thermal units (\"MMBtu\") per day of natural gas for a term of 15 years commencing with commercial operations of the first train of the Sabine Pass Stage 5 Expansion Project (\"SPL Expansion Project\"), anticipated by 2029.\n \n \n ARC will utilize its existing contracted pipeline capacity to the U.S. Gulf Coast to supply the natural gas volumes to Cheniere. Under the agreement, ARC will receive a liquefied natural gas (\"LNG\") price based on the Dutch Title Transfer Facility (\"TTF\") price, after fixed deductions for liquefaction, shipping and regasification fees.\n \n \n \"With today's announcement, we are advancing the export of low-cost, low-emission Canadian natural gas to consuming markets in\n \n Europe\n \n ,\" said\n \n Terry Anderson\n \n , ARC's President and Chief Executive Officer. \"We are pleased to further our long-term partnership with Cheniere and demonstrate the critical role Canadian energy has to play on the world stage. This marks ARC's second long-term LNG agreement linked to foreign indices and is an important milestone in the execution of our market diversification strategy.\"\n \n \n \"This is the second long-term agreement between Cheniere and ARC Resources, and further progresses the commercialization of the SPL Expansion Project...