Cheniere Marketing, a subsidiary of U.S.-based Cheniere Energy has inked a long-term sale and purchase agreement (SPA) to provide liquefied natural gas (LNG) to Galp Trading, an affiliate of Portuguese oil and gas company Galp Energia.

Under the 20-year deal, Galp will buy approximately 0.5 million tonnes per annum (mtpa) of LNG from Cheniere on a free-on-board (FOB) basis for a purchase price indexed to the Henry Hub price, plus a fixed liquefaction fee. Deliveries are envisaged to start in the early 2030s.