Letter Agreement Amending LNG Sale and Purchase Agreement between Sabine Pass Liquefaction, LLC and Cheniere Marketing International LLP (2022 Pricing)

Contract Categories: Business Finance › Purchase Agreements
Summary

Sabine Pass Liquefaction, LLC and Cheniere Marketing International LLP have agreed to modify the pricing for up to 35 LNG cargoes to be delivered in 2022 under their existing Sale and Purchase Agreement. The price for these cargoes will be set at $1.92 per MMBtu, overriding the original pricing terms for these deliveries. Both parties must sign this letter to confirm their agreement to the new terms.

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EX-10.3 4 exhibit103spl2021form3rdqtr.htm EX-10.3 Document

Exhibit 10.3

Sabine Pass Liquefaction, LLC

November 3, 2021

Cheniere Marketing International LLP
3rd Floor, The Zig Zag Building
70 Victoria Street
London SW1E 6SQ, United Kingdom
Attn: Commercial Operations

Re: Letter Agreement regarding the Base SPA (“Letter Agreement”)

Dear Sir or Madam:

The Parties have entered into that certain Amended and Restated LNG Sale and Purchase Agreement (FOB) dated August 5, 2014 between Sabine Pass Liquefaction, LLC and Cheniere Marketing International LLP (as assignee of Cheniere Marketing, LLC) (as amended and assigned, the “Base SPA”). Capitalized terms used but not defined herein shall have the meanings given them in the Base SPA. This Letter Agreement sets forth the terms of certain sales and purchases of LNG under the Base SPA.

The Parties hereby agree that, notwithstanding Section 9.2 and subject to Section 14 of the Base SPA, the FPC (expressed in USD per MMBtu) applicable to up to thirty-five (35) cargoes scheduled for delivery in Contract Year 2022 shall equal USD one decimal nine two per MMBtu (US$1.92/MMBtu).

Please indicate Buyer’s agreement with the terms of this Letter Agreement by executing a copy of this Letter Agreement where indicated below and returning it to Seller.

Sincerely,

Sabine Pass Liquefaction, LLC

By:/s/ Zach Davis
Zach Davis
Chief Financial Officer

Accepted and Agreed:
Cheniere Marketing International LLP
acting by its managing member, Cheniere Marketing, LLC
By:/s/ Anatol Feygin
Anatol Feygin
Executive Vice President and Chief Commercial Officer

700 Milam Street, Suite 1900, Houston, Texas 77002
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