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Cheniere and Iberdrola Sign 20-Year LNG Sale and Purchase Agreement
Cheniere Energy, Inc. ("Cheniere") (NYSE MKT: LNG) announced today that its subsidiary, Corpus Christi Liquefaction, LLC ("Corpus Christi Liquefaction"), has entered into a liquefied natural gas ("LNG") sale and purchase agreement ("SPA") with Iberdrola, S.A. ("Iberdrola") under which Iberdrola has agreed to purchase approximately 0.4 million tonnes per annum ("mtpa") of LNG upon the commencement of operations of Train 1 of the LNG export facility being developed near Corpus Christi, Texas (the "Corpus Christi Liquefaction Project"), and increasing to approximately 0.8 mtpa of LNG upon the commencement of operations of Train 2. The Corpus Christi Liquefaction Project is being designed and permitted for up to three trains, with aggregate design production capacity of 13.5 mtpa of LNG.

Iberdrola Agrees Long-Term Gas Supply Deal With BP In Spain Starting 2012
Iberdrola Agrees Long-Term Gas Supply Deal With BP In Spain Starting 2012

• It will deliver 0.5 bcm/year at regasification terminals in Spain for the next 10 years
• The Company, which last year signed a similar contract with Dong of Denmark, thereby expands its gas supply options
• IBERDROLA has long-term gas supply contracts with companies including ENI of Italy, Sonatrach of Algeria, Nigeria LNG and Statoil of Norway
• IBERDROLA has signed a contract with BP whereby the Spanish company will supply 0.5 bcm (billion cubic metres) of liquefied natural gas (LNG) in Spain starting 2012.