Cheniere
US largest LNG exporter; supply contracts now central to European industrial gas security.
Last refreshed: 22 May 2026 · Appears in 1 active topic
Does the BASF-Cheniere deal actually shield European industry from gas price shocks?
Timeline for Cheniere
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European Energy Markets- 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
- 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
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.