HOUSTON, Sept. 16, 2016 /PRNewswire/ -- Cheniere
Energy Partners, L.P. ("Cheniere Partners") (NYSE MKT: CQP)
today announced that Substantial Completion of Train 2 of
the Sabine Pass liquefaction project in Cameron
Parish, Louisiana (the "SPL Project") was achieved on
September 15, 2016. Commissioning has
been completed and Cheniere Partners' EPC partner Bechtel Oil, Gas
and Chemicals, Inc. ("Bechtel") is turning over care, custody, and
control of Train 2 to Cheniere Partners. This turnover will be done
in coordination with a previously announced planned outage to
improve performance of the flare systems at the SPL Project, as
well as to perform scheduled maintenance to Train 1 and other
facilities.
Under a sale and purchase agreement ("SPA") with Gas
Natural Fenosa LNG GOM Ltd. ("GNF"), the date of first commercial
delivery ("DFCD") for Train 2 of the SPL Project is expected to
occur in August 2017 upon which the
SPA's 20-year term commences. Prior to DFCD, GNF has certain rights
to early cargoes produced from Train 2 as described in the SPA.
With the achievement of Substantial Completion, financial
results of LNG sales from Train 2 going forward will be reflected
in the statement of operations of Cheniere Partners and its
affiliates.
Cheniere Partners, through its subsidiary, Sabine Pass
Liquefaction, LLC ("SPL"), is developing and constructing
natural gas liquefaction facilities at the Sabine Pass LNG terminal
adjacent to the existing regasification facilities. Cheniere
Partners, through SPL, plans to construct over time up to six
liquefaction trains, which are in various stages of development and
construction. Trains 1 and 2 have achieved Substantial Completion,
Train 3 is undergoing commissioning, Trains 4 and 5 are under
construction, and Train 6 is fully permitted. Each liquefaction
train is expected to have a nominal production capacity of
approximately 4.5 million tonnes per annum ("mtpa") of LNG. SPL has
entered into six third-party LNG sale and purchase agreements
("SPAs") that in the aggregate equate to approximately 19.75 mtpa
of LNG and commence with DFCD of Trains 1 through 5 as specified in
the respective SPAs. For additional information, please refer to
the Cheniere Partners website
at www.cheniere.com and Form 10-Q for the period
ending June 30, 2016, filed with the Securities and
Exchange Commission.
Forward-Looking Statements
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.