Press Releases

Cheniere Energy, Inc. NYSE American: LNG

Cheniere Engages 18 Joint Lead Arrangers to Arrange the Debt Financing for the Corpus Christi Liquefaction Project

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.






Target Date



Sabine Pass Liquefaction


Corpus Christi Liquefaction

Milestone


Trains

1 & 2


Trains

3 & 4


Trains

5 & 6


Trains

1-3

DOE export authorization


Received


Received


Received FTA

Pending Non-FTA


Received FTA

Pending Non-FTA

Definitive commercial agreements


Completed

7.7 mtpa


Completed

 8.3 mtpa


T5: Completed

T6: 2015


T1-T2: Completed

T3: 0.77 mtpa

- BG Gulf Coast LNG, LLC


4.2 mtpa


1.3 mtpa





- Gas Natural Fenosa


3.5 mtpa







- KOGAS




3.5 mtpa





- GAIL (India) Ltd.




3.5 mtpa





- Total Gas & Power N.A.






2.0 mtpa



- Centrica plc






1.75 mtpa



- PT Pertamina








1.52 mtpa

- Endesa, S.A.








2.25 mtpa

- Iberdrola, S.A.








0.76 mtpa

- Gas Natural Fenosa LNG SL








1.50 mtpa

- Woodside Energy Trading Singapore








0.85 mtpa

- Electricité de France, S.A.








0.77 mtpa

EPC contract


Completed


Completed


2015


Completed

Financing


 Completed


Completed


2015



- Equity Commitments








Received 

- Debt commitments








Received

FERC authorization









- FERC Order


Received


Received


2015


2014/2015

- Certificate to commence construction


Received


Received





Issue Notice to Proceed


Completed


Completed


2015


2015

Commence operations


2015/2016


2016/2017


2018/2019


2018/2019










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.