HOUSTON, June 29, 2015 /PRNewswire/ -- Cheniere
Energy Partners, L.P. ("Cheniere Partners") (NYSE MKT: CQP)
announced today that Sabine Pass Liquefaction, LLC ("Sabine Pass
Liquefaction") has engaged 18 financial institutions to act as
Joint Lead Arrangers to assist in the structuring and arranging of
up to approximately $5.8 billion of
debt facilities, including approximately $4.6 billion of credit facilities and an
approximately $1.2 billion revolving
credit facility. Sabine Pass Liquefaction will amend and
upsize its existing credit facilities to increase the available
commitments to fund a portion of the costs of developing,
constructing, and placing into service the first five liquefaction
trains of the Sabine Pass
liquefaction project ("Sabine Pass Liquefaction Project") in
Cameron Parish, Louisiana, and for
general business purposes. The Sabine Pass Liquefaction Project is
being designed for up to six liquefaction trains, each with nominal
production capacity of approximately 4.5 million tonnes per annum
("mtpa").
Obtaining financing is one of the last milestones to complete
before proceeding with construction of Train 5 of the Sabine Pass
Liquefaction Project. Cheniere Partners expects to close the
credit facilities and issue a notice to proceed to Bechtel Oil, Gas
and Chemicals, Inc. for Train 5 in due course.
Cheniere Partners owns 100 percent of the Sabine Pass LNG
terminal located on the Sabine
Pass deep water shipping channel less than four miles from
the Gulf Coast. The Sabine Pass LNG terminal includes existing
infrastructure of five LNG storage tanks with capacity of
approximately 16.9 billion cubic feet equivalent (Bcfe), two docks
that can accommodate vessels with nominal capacity of up to 266,000
cubic meters and vaporizers with regasification capacity of
approximately 4.0 Bcf/d.
Cheniere Partners is developing natural gas liquefaction
facilities at the Sabine Pass LNG terminal adjacent to the existing
regasification facilities. Cheniere Partners plans to construct
over time up to six liquefaction trains, which are in various
stages of development. Each liquefaction train is expected to have
a nominal production capacity of approximately 4.5 mtpa. The
overall project completion percentage of Trains 1 and 2 is
approximately 90.8% as of May 31,
2015. The overall project completion percentage of Trains 3
and 4 is approximately 67.7% as of May 31,
2015. Cheniere Partners has received all regulatory
approvals to construct and operate Train 5 and 6. Cheniere Partners
has entered into six third-party LNG SPAs that in the aggregate
equate to 19.75 mtpa and commence with the date of first commercial
delivery of Trains 1 through 5 as specified in the respective SPAs.
Cheniere Partners has placed documentation pertaining to the
Liquefaction Project, including the applications and supporting
studies, on its website located at http://www.cheniere.com.
This press release contains certain statements that may include
"forward-looking statements." All statements, other than statements
of historical facts, included herein are "forward-looking
statements." Included among "forward-looking statements" are, among
other things, (i) statements regarding Cheniere Partners' business
strategy, plans and objectives, including the development,
construction and operation of liquefaction facilities, (ii)
statements regarding expectations regarding regulatory
authorizations and approvals, (iii) statements expressing beliefs
and expectations regarding the development of Cheniere Partners'
LNG terminal and liquefaction business, (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 contracts.
Although Cheniere Partners 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 Partners' 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 Partners' 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 Partners
does not assume a duty to update these forward-looking
statements.
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SOURCE Cheniere Energy Partners, L.P.