The Houston, TX-based liquefied natural gas (“LNG”) company — Cheniere Energy, Inc. LNG — recently declared that it has signed a long-term LNG sale and purchase agreement with a unit of PetroChina Company Limited PTR.

Per the deal, which runs until 2050, Cheniere’s wholly owned subsidiary, Cheniere Marketing, will sell roughly 1.8 million tons per annum (mtpa) of LNG on a free-on-board basis to PetroChina’s subsidiary.

Cheniere mentioned that deliveries under the agreement would commence in 2026, reaching the full 1.8 mtpa target in 2028 and continuing until the end of the agreement period. The LNG purchase price is indexed to the Henry Hub price plus a fixed liquefaction fee. However, 50% of the total volume or about 0.9 mtpa is subject to Cheniere making a positive final investment decision to construct additional liquefaction capacity at the Corpus Christi LNG Terminal beyond the seven-train Corpus Christi Stage 3 Project.

The investment decision, if made, will be in addition to the recently sanctioned $8-billion Corpus Christi Stage 3 Project, which will add up to seven midscale trains to augment the facility’s total nominal capacity to nearly 25 Mtpa.

Jack Fusco, LNG’s President and Chief Executive Officer, said that his company is pleased to build on its existing and successful long-term relationship with PTR and pen a long-term LNG contract. He further mentioned that PetroChina is a top energy firm in one of the biggest and fastest-growing markets for LNG and that Cheniere is proud to support China’s progress toward a lower-carbon future by supplying dependable, cleaner-burning LNG.

PetroChina Company Limited is the largest integrated oil company in China. It was established in November 1999 as part of the restructuring of China National Petroleum Corporation, a state-owned entity, which currently holds a stake of 81.03% in PetroChina. PetroChina operates in four segments: Exploration & Production, Natural Gas & Pipelines, Refining & Chemicals and Marketing.

Cheniere Energy Inc. is primarily engaged in businesses related to LNG through its two business segments: LNG terminal and LNG and natural gas marketing. The company, through its controlling interest in Cheniere Energy Partners L.P., owns and operates the Sabine Pass LNG terminal in Louisiana – North America’s first large-scale liquefied gas export facility.

Cheniere currently sports a Zacks Rank #1 (Strong Buy). Some other similar-ranked stocks from the energy space that warrant a look include Marathon Petroleum MPC and California Resources CRC. You can see the complete list of today’s Zacks #1 Rank stocks here.