HOUSTON, June 2, 2017 /PRNewswire/ -- Cheniere Energy, Inc. ("Cheniere") (NYSE MKT: LNG) announced today that it has achieved important regulatory and financial milestones related to the development of its previously announced 200-mile 36-inch interstate natural gas pipeline project (the "Midship Project").

Midship Pipeline Company, LLC ("Midship") has filed an application for a Certificate of Public Convenience and Necessity with the Federal Energy Regulatory Commission ("FERC") with respect to the Midship Project. Midship currently targets receipt of FERC authorization in early 2018 and in-service of the Midship Project in late 2018 or early 2019.

"The filing of the FERC application is an important development for the Midship Project as we continue to progress the project forward. Midship is being developed to provide a solution to producers in the Anadarko Basin that will ensure their product can reach growing demand markets along the Gulf Coast, including LNG exports," said Jack A. Fusco, Cheniere's President and Chief Executive Officer. "The Midship Project demonstrates the capability and breadth of the Cheniere platform as we continue to execute on our project development plans."

In addition to filing the FERC application, Midship Holdings, LLC ("Midship Holdings") has entered into agreements with investment funds managed by EIG Global Energy Partners ("EIG") under which EIG-managed funds have committed to make an investment of up to $500 million (the "EIG Investment") in the Midship Project, subject to the terms and conditions contained in the applicable agreements. Subject to Midship Holdings making a positive Final Investment Decision with respect to the Midship Project, the EIG Investment, and equity contributed by Cheniere, is intended to ensure that the project has the equity funding expected to be required to develop and construct up to the full project design of 1,440,000 Dekatherms per day of throughput capacity. Credit Suisse acted as exclusive financial advisor to Cheniere on the EIG Investment.

"We are pleased to once again work with Cheniere on this important American energy infrastructure project," said Wallace Henderson, Managing Director of EIG. "EIG has previously worked with Cheniere on the Corpus Christi Liquefaction terminal, and is now excited to extend that successful relationship further along the LNG and midstream value chain."

The Midship Project is being developed to create pipeline capacity of up to 1,440,000 Dekatherms per day of firm transportation to connect production from the emerging STACK and SCOOP resource plays in the Anadarko Basin in Oklahoma to growing Gulf Coast and Southeast markets. The Midship Project is expected to consist of approximately 200 miles of 36 inch diameter new mainline pipeline, several laterals, compressor stations and interconnects that will provide receipts from STACK and SCOOP processing plants and provide deliveries to Bennington, Oklahoma, as well as access to downstream markets including the TexOk hub near Atlanta, Texas, and the Perryville Hub near Tallulah, Louisiana. As previously disclosed, Midship has secured commitments from subsidiaries and/or affiliates of Cheniere, Devon Energy Corporation, Marathon Oil Corporation, and Gulfport Energy Corporation to support initial construction of approximately 1,000,000 Dekatherms per day of capacity.

Midship Holdings would require acceptable financing arrangements, which may include project financings and offerings by it or its subsidiaries of debt or equity, and regulatory and other approvals before the proposed project begins construction.

About Cheniere
Cheniere Energy, Inc., a Houston-based energy company primarily engaged in LNG-related businesses, owns and operates the Sabine Pass LNG terminal in Louisiana. Directly and through its subsidiary, Cheniere Energy Partners, L.P., Cheniere is developing, constructing, and operating liquefaction projects near Corpus Christi, Texas and at the Sabine Pass LNG terminal, respectively. Cheniere is also exploring a limited number of opportunities directly related to its existing LNG business.

For additional information, please refer to the Cheniere website at www.cheniere.com and Quarterly Report on Form 10-Q for the quarter ended March 31, 2017, filed with the Securities and Exchange Commission.

About EIG
EIG specializes in private investments in energy and energy-related infrastructure on a global basis and has US$15.1 billion under management as of March 31, 2017. Since 1982, EIG has been one of the leading providers of institutional capital to the global energy industry, providing financing solutions across the balance sheet for companies and projects in the oil and gas, midstream, infrastructure, power and renewables sectors globally. During its 35-year history, EIG has invested US $23.7 billion in more than 315 portfolio investments in 36 countries. EIG is headquartered in Washington, D.C., with offices in Houston, London, Sydney, Rio de Janeiro, Hong Kong and Seoul. For more information, please visit www.eigpartners.com.

Forward-Looking Statements
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 or present facts or conditions, 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 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'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 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.