Spain's Gas Natural Fenosa Expects to Obtain First Sabine Pass LNG in 2016

Spain's Gas Natural Fenosa expects to obtain some early quantities of LNG from the US Sabine Pass LNG terminal during 2016, according to company CEO Rafael Villaseca.

The company, which has a 4.8 Bcm/year contract starting in 2017, said Wednesday it expects to place some volume ahead of that date, without saying how much.

Villaseca said the company has already made agreements to sell 3 Bcm of the annual 4.8 Bcm it has agreed to buy from the plant's operator Cheniere Energy.

Villaseca said Gas Natural would buy US gas at an average of $6.33/MMBtu on a FOB basis for 2016.

The company said it expects to sell 120 TWh of LNG globally in 2016, with 80% of that volume already covered.