HOUSTON, Dec. 12, 2014 /PRNewswire/ -- Cheniere Energy,
Inc. ("Cheniere") (NYSE MKT: LNG) announced today that it has
engaged 18 financial institutions to act as Joint Lead Arrangers
("Arrangers") to assist in the structuring and arranging of up to
$11.5 billion of debt
facilities. The proceeds will be used to pay for the costs of
development and construction of the LNG export facility and related
pipeline being developed near Corpus
Christi, Texas (the "Corpus Christi Liquefaction Project")
and for general business purposes. As previously disclosed,
estimated capital costs for the proposed liquefaction project of
$11.5 billion to $12.0 billion,
before financing and pipeline facilities, are expected to be funded
from a combination of debt and equity financings.
The 18 Arrangers are Bank of America, BNP Paribas Securities,
Credit Suisse, Goldman Sachs, HSBC, ING Capital, Intesa Sanpaolo,
JPMorgan Chase, Lloyds Bank, Mizuho
Bank, Morgan Stanley, Royal Bank of Canada, The Bank of Nova Scotia, Société Générale, Sumitomo Mitsui
Banking Corporation, Commonwealth Bank of Australia, Standard Chartered Bank, and The
Bank of Tokyo-Mitsubishi UFJ, Ltd.
"Our core banking group for the Corpus Christi Liquefaction
Project consists of a strong group of financial institutions and we
look forward to our continued relationships with these banks, the
majority of which participated in our Sabine Pass liquefaction project. We have now
received the equity and debt commitments needed to support the
financing of the Corpus Christi Liquefaction Project," said
Charif Souki, Chairman and CEO.
"We are continuing to make progress on our Corpus Christi liquefaction project and expect
to commence construction in early 2015."
Commencement of construction for the Corpus Christi Liquefaction
Project is subject, but not limited to, obtaining regulatory
approvals, entering into long-term customer contracts sufficient to
underpin financing of the project, obtaining financing, and
Cheniere making a final investment decision.
About Cheniere Energy, Inc.
Cheniere Energy, Inc. is a Houston-based energy company primarily engaged
in LNG-related businesses. Its subsidiary, Cheniere Energy
Partners, L.P., ("Cheniere Partners") (NYSE MKT: CQP) owns and
operates the Sabine Pass LNG terminal and Creole Trail Pipeline
located in Louisiana.
Cheniere Partners is developing a liquefaction project at the
Sabine Pass LNG terminal adjacent to the existing regasification
facilities for up to six LNG trains, each of which is expected to
have a nominal production capacity of approximately 4.5 mtpa (the
"Sabine Pass Liquefaction Project"). Construction has begun on
Trains 1 through 4 of the Sabine Pass Liquefaction Project.
Cheniere has also initiated a project to develop liquefaction
facilities near Corpus Christi,
Texas ("the Corpus Christi Liquefaction Project"). The
Corpus Christi Liquefaction Project is being designed for up to
three LNG trains, with expected aggregate nominal production
capacity of approximately 13.5 mtpa of LNG, three LNG storage tanks
with capacity of approximately 10.1 Bcfe and two LNG carrier docks.
Commencement of construction for the Corpus Christi Liquefaction
Project is subject, but not limited to, obtaining regulatory
approvals, entering into long-term customer contracts sufficient to
underpin financing of the project, obtaining financing, and
Cheniere making a final investment decision. Cheniere believes that
LNG exports from the Corpus Christi Liquefaction Project could
commence as early as 2018.
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Target
Date
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Sabine Pass
Liquefaction
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Corpus Christi
Liquefaction
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Milestone
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Trains
1 &
2
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Trains
3 &
4
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Trains
5 &
6
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Trains
1-3
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DOE export
authorization
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Received
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Received
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Received
FTA
Pending
Non-FTA
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Received
FTA
Pending
Non-FTA
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Definitive commercial
agreements
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Completed
7.7 mtpa
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Completed
8.3
mtpa
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T5:
Completed
T6: 2015
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T1-T2:
Completed
T3: 0.77
mtpa
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- BG Gulf Coast LNG,
LLC
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4.2 mtpa
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1.3 mtpa
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- Gas Natural
Fenosa
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3.5 mtpa
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- KOGAS
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3.5 mtpa
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- GAIL (India)
Ltd.
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3.5 mtpa
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- Total Gas &
Power N.A.
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2.0 mtpa
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- Centrica
plc
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1.75 mtpa
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- PT
Pertamina
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1.52 mtpa
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- Endesa,
S.A.
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2.25 mtpa
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- Iberdrola,
S.A.
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0.76 mtpa
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- Gas Natural Fenosa
LNG SL
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1.50 mtpa
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- Woodside Energy
Trading Singapore
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0.85 mtpa
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- Electricité de
France, S.A.
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0.77 mtpa
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EPC
contract
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Completed
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Completed
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2015
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Completed
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Financing
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Completed
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Completed
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2015
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- Equity
Commitments
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Received
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- Debt
commitments
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Received
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FERC
authorization
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- FERC
Order
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Received
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Received
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2015
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2014/2015
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- Certificate to
commence construction
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Received
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Received
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Issue Notice to
Proceed
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Completed
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Completed
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2015
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2015
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Commence
operations
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2015/2016
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2016/2017
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2018/2019
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2018/2019
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This press release contains certain statements that may include
"forward-looking statements" within the meanings of Section 27A of
the Securities Act of 1933 and Section 21E of the Securities
Exchange Act of 1934. All statements, other than statements of
historical fact, included herein are "forward-looking statements."
Included among "forward-looking statements" are, among other
things, (i) statements regarding Cheniere's business strategy,
plans and objectives, including the construction and operation of
liquefaction facilities, (ii) statements regarding our expectations
regarding regulatory authorizations and approvals, (iii) statements
expressing beliefs and expectations regarding the development of
Cheniere's LNG terminal and pipeline businesses, including
liquefaction facilities, (iv) statements regarding the business
operations and prospects of third parties, (v) statements regarding
potential financing arrangements and (vi) statements regarding
future discussions and entry into long-term contracts. Although
Cheniere believes that the expectations reflected in these
forward-looking statements are reasonable, they do involve
assumptions, risks and uncertainties, and these expectations may
prove to be incorrect. Cheniere's actual results could differ
materially from those anticipated in these forward-looking
statements as a result of a variety of factors, including those
discussed in Cheniere's periodic reports that are filed with and
available from the Securities and Exchange Commission. You should
not place undue reliance on these forward-looking statements, which
speak only as of the date of this press release. Other than as
required under the securities laws, Cheniere does not assume a duty
to update these forward-looking statements.
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SOURCE Cheniere Energy, Inc.