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Cheniere
OrganisationUS

Cheniere

US largest LNG exporter; supply contracts now central to European industrial gas security.

Last refreshed: 22 May 2026 · Appears in 1 active topic

Key Question

Does the BASF-Cheniere deal actually shield European industry from gas price shocks?

Timeline for Cheniere

#1115 May

Mentioned in: Golden Pass routes Qatari LNG via Texas

European Energy Markets
#99 May

BASF flags Verbund freezes; Q1 EBITDA -6%

European Energy Markets
#523 Apr

ACER: US LNG now 30% of EU gas imports

European Energy Markets
#113 Apr

JPMorgan warns on chemicals margin squeeze

European Energy Markets
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Common Questions
When does Cheniere start supplying LNG to BASF?
BASF's long-term Cheniere LNG supply contract is not due to begin until mid-2026, leaving BASF exposed to spot gas prices in the near term.Source: european-energy-markets
How much LNG does Cheniere export per year?
Cheniere's Sabine Pass and Corpus Christi terminals have a combined export capacity of around 45 million tonnes per annum (mtpa), making it the largest US LNG exporter and about 7% of global supply.Source: Cheniere Energy
Is Cheniere LNG spot or long-term contract?
Both. Cheniere sells on long-term FOB contracts and also has spot/flexible tranches. European utilities signed long-term deals post-2022 but some deliveries are still ramping up.Source: european-energy-markets

Background

Cheniere Energy is the United States' largest LNG exporter, operating Sabine Pass in Louisiana (~30 mtpa, opened 2016, the first US LNG export facility) and Corpus Christi in Texas (~15 mtpa, expanding). Combined capacity is around 45 mtpa, representing ~45% of US LNG export capacity and ~7% of global supply. Listed on NYSE under ticker LNG, headquartered in Houston, Texas, founded 1996.

Cheniere contracts have become a structural part of European energy security since Russia curtailed pipeline supply in 2022. US LNG now covers 30% of EU gas imports and two-thirds of EU LNG imports, a 45% year-on-year rise flagged by ACER in April 2026. BASF signed a long-term Cheniere supply contract with deliveries beginning mid-2026, providing industrial gas relief at the moment the group warned TTF prices were unsustainable for Verbund operations. The JKM-TTF spread (~USD 2.30 in mid-2026) means marginal Atlantic cargoes still route east, tightening European spot supply.

More questions
When did Cheniere start supplying LNG to BASF?
BASF's long-term Cheniere LNG supply contract came into effect mid-2026, ending the period of full spot-gas exposure that squeezed the group's Q1 2026 EBITDA.Source: Lowdown European Energy Markets
What share of EU gas imports comes from Cheniere and US LNG?
US LNG now accounts for 30% of EU gas imports and two-thirds of EU LNG imports, a 45% year-on-year rise, according to ACER's April 2026 winter monitoring report.Source: ACER Gas Wholesale Markets report, April 2026
Does Cheniere sell LNG on long-term contracts or spot?
Cheniere sells predominantly on long-term FOB contracts with major utilities and industrial groups, but also holds spot and flexible tranches. Buyers trade the LNG independently, making Cheniere output a flexible swing supply for Europe and Asia.Source: Cheniere Energy
Why does the JKM-TTF spread affect where Cheniere cargoes go?
Cheniere sells FOB, so buyers route cargoes based on the JKM-TTF price spread. When JKM (Asian LNG benchmark) is sufficiently above TTF (European benchmark), buyers ship cargoes east rather than west, reducing Atlantic supply and tightening European spot markets.Source: Lowdown European Energy Markets
What is Cheniere Energy and why does it matter for European gas supply?
Cheniere is the largest US LNG exporter, operating Sabine Pass and Corpus Christi terminals with ~45 mtpa combined capacity. It is now a structural supplier to Europe, with US LNG covering 30% of EU gas imports.Source: ACER Gas Wholesale Markets Report, April 2026
When did the Sabine Pass terminal start exporting LNG?
Sabine Pass in Louisiana began exporting LNG in 2016. It was the first US lower-48 LNG export terminal and holds six liquefaction trains with approximately 30 mtpa capacity.Source: Cheniere corporate history
What is the BASF Cheniere LNG contract and when does it start?
BASF signed a long-term LNG supply agreement with Cheniere with deliveries beginning mid-2026, providing structural relief against spot TTF exposure for BASF's European Verbund operations.Source: European Energy Markets, Update #9
Why does US LNG sometimes route to Asia instead of Europe?
Cheniere sells LNG on a free-on-board basis, meaning buyers or traders route cargoes where prices are highest. When the JKM-TTF spread exceeds shipping economics, Asian markets offer better margins than European delivery.Source: European Energy Markets briefing, mid-2026
Source Material
Cheniere Energy — Official SiteCheniere Energy — Wikipedia