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Korea Gas to Buy U.S. LNG as Gas Slump Attracts Asian Importers

Korea Gas Corp. agreed to buy liquefied natural gas from Cheniere Energy Partners LP, the second such deal by an Asian company in two months, seeking to take advantage of the cheapest U.S. supplies in a decade.

The world’s largest LNG importer agreed to buy 3.5 million metric tons annually from the proposed Sabine Pass terminal in Louisiana for two decades starting 2017, Houston-based Cheniere said yesterday. The price will be linked to monthly levels at Henry Hub, a U.S. benchmark, plus a fixed component.