Exhibit 99.1

    ChevronTexaco and Cheniere Finalize Agreement for Capacity at
                       Sabine Pass LNG Terminal

    SAN RAMON, Calif. & HOUSTON--(BUSINESS WIRE)--Dec. 13, 2004--An
affiliate of ChevronTexaco Global Gas and Sabine Pass LNG, L.P., a
subsidiary of Cheniere Energy Inc. (AMEX:LNG), today announced that
they have finalized a 20-year agreement for 700 million cubic feet per
day (mmcf/d) of reserved regasification capacity at Cheniere's Sabine
Pass Liquefied Natural Gas (LNG) terminal. The agreement also includes
options to reduce or expand capacity.
    John Gass, president of ChevronTexaco Global Gas, said, "This
agreement is a significant milestone in achieving ChevronTexaco's
strategy to create a high-impact gas business. Securing this capacity
provides us with access to the key U.S. Gulf Coast market, which is
critical to successfully commercializing our undeveloped natural gas
resources."
    Keith Meyer, president of Cheniere LNG Inc., said, "Finalizing
this agreement is yet another important development as we prepare to
construct Sabine Pass. We welcome ChevronTexaco and we are proud to
have this opportunity to work with them to satisfy our nation's need
for new supplies of natural gas."
    "ChevronTexaco is pursuing a portfolio of LNG terminal
opportunities in North America to provide flexibility in delivering
reliable and affordable supplies of clean natural gas to consumers. We
look forward to working closely with Cheniere to ensure the success of
this project," said Gass.
    Currently celebrating its 125th anniversary, ChevronTexaco Corp.
is one of the world's leading energy companies. With more than 47,000
employees, ChevronTexaco conducts business in approximately 180
countries around the world, producing and transporting crude oil and
natural gas, and marketing and distributing fuels and other energy
products. ChevronTexaco is based in San Ramon, Calif. More information
on ChevronTexaco is available at www.chevrontexaco.com
    Cheniere Energy Inc. is a Houston-based developer of LNG receiving
terminals and a Gulf of Mexico E&P company. Cheniere is developing
Gulf Coast LNG receiving terminals near Sabine Pass in Cameron Parish,
La., in which it holds 100%; near Corpus Christi, Texas, in which it
holds 66.7%; and near the city of Cameron in Cameron Parish, La., in
which it holds 100%. Cheniere is also a 30% limited partner in
Freeport LNG Development, L.P., which is developing an LNG receiving
terminal in Freeport, Texas. Cheniere conducts exploration for oil and
gas in the Gulf of Mexico using a regional database of 7,000 square
miles of PSTM 3D seismic data. Cheniere also owns 9% of Gryphon
Exploration Company, along with Warburg, Pincus Equity Partners, L.P.
which owns 91%. Additional information about Cheniere Energy Inc. may
be found on its Web site at www.Cheniere.com.
    For additional information on the Chevron USA Inc. and Sabine Pass
LNG L.P. agreements, please refer to the related Cheniere Energy Inc.
reports filed with the Securities and Exchange Commission on Form 8-K
dated Dec. 13, 2004; Form 8-K dated Nov. 9, 2004; and Form 10-Q dated
Nov. 15, 2004.
    Editor's Note: Cheniere is developing the Sabine Pass LNG
receiving terminal near Sabine Pass in Cameron Parish, La. The
terminal is designed to regasify 2.6 billion cubic feet of natural gas
per day. Sabine Pass LNG received its final Environmental Impact
Statement from FERC in November 2004. Construction is planned to begin
by the end of the first quarter of 2005.

    This press release contains certain statements that may include
"forward-looking statements" within the meaning 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 facts,
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 and (ii)
statements expressing beliefs and expectations regarding the
development of Cheniere's LNG receiving terminal business. 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.

    CONTACT: Cheniere Energy Inc.
             David Castaneda, 713-265-0202
             or
             ChevronTexaco
             Michael Barrett, 925-842-3422