Exhibit 10.1

        Summary of Compensation for President and Chief Operating Officer
                            of Cheniere Energy, Inc.

     Like all of the executive officers of Cheniere Energy, Inc., the President
and Chief Operating Officer, is an "at will" employee and does not have an
employment or severance agreement. The unwritten arrangement under which our
President and Chief Operating Officer is compensated includes:

     o    a salary, reviewed annually by the Compensation Committee;

     o    eligibility for a discretionary annual cash bonus, as determined by
          the Compensation Committee;

     o    eligibility for awards under Cheniere's 2003 Stock Incentive Plan, as
          determined by the Compensation Committee;

     o    health, life, disability and other insurance and/or benefits;

     o    vacation, paid sick leave and all other employee benefits.


         The Compensation Committee of our Board of Directors has established an
annual base salary of $400,000 for our President and Chief Operating Officer
after a review of competitive market data. The Compensation Committee intends to
make two option grants to Mr. Horton, effective April 18, 2005: 150,000 options
at the closing market price on April 18, 2005 to vest equally on the first four
anniversary dates of the date of grant, and 150,000 options at the closing
market price on April 18, 2005 to vest equally on the fourth, fifth and sixth
anniversary dates of the date of grant.