Cheniere Energy, Inc.
AMEX : LNG

April 03, 2006 07:30 ET

Cheniere Energy Invites Capacity Offers at Sabine Pass LNG Terminal; Cheniere LNG Marketing Secures Capacity at Cheniere's Sabine Pass and Corpus Christi LNG Terminals

HOUSTON--(CCNMatthews - Apr 3, 2006) -

Cheniere Energy, Inc. (AMEX:LNG) announced today that it is issuing invitations for offers on up to 500 million cubic feet per day (MMcf/d) of the remaining long-term regasification capacity at the Sabine Pass liquefied natural gas (LNG) receiving terminal (Sabine Pass LNG). The Sabine Pass LNG capacity offering will close on May 15, 2006.

Cheniere Energy also announced today that its wholly-owned subsidiary, Cheniere LNG Marketing, Inc. (Cheniere LNG Marketing), entered into long-term terminal use agreements for 1.5 billion cubic feet per day (Bcf/d) of capacity at the Sabine Pass LNG receiving terminal and for 1 Bcf/d at the Corpus Christi LNG receiving terminal (Corpus Christi LNG). 2 Bcf/d of capacity at Sabine Pass LNG is held by affiliates of Total S.A. and the Chevron Corporation, each with 1 Bcf/d of reserved capacity.

Sabine Pass LNG is currently under construction in Cameron Parish, Louisiana, and is expected to be operational in early 2008. The facility will have rated capacity in its initial phase of 2.6 Bcf/d. In July 2005, Cheniere applied to the Federal Energy Regulatory Commission seeking authorization to expand the facility's rated capacity to 4 Bcf/d. The expansion capacity is planned to be operational in 2009.

Corpus Christi LNG is permitted with a rated capacity of 2.6 Bcf/d and received an initial authorization to commence construction from the Federal Energy Regulatory Commission in December 2005. Site preparation activities are expected to commence in the second quarter of this year and the terminal is expected to be operation in 2010.

Cheniere Energy, Inc.

Cheniere Energy is developing a platform of three, 100%-owned LNG receiving terminal projects along the U.S. Gulf Coast. The three terminals will have an aggregate send-out capacity of 9.9 billion cubic feet of natural gas per day. Cheniere plans to leverage its terminal platform by pursuing related LNG business opportunities both upstream and downstream of the terminals. Cheniere is also the founder and holds a 30% limited partner interest in a fourth LNG receiving terminal, is a partner in an LNG shipping venture, and engages in oil and gas exploration in the shallow waters of the U.S. Gulf of Mexico.

Cheniere is based in Houston, Texas, with offices in Johnson Bayou, Louisiana, and Paris, France. Additional information about Cheniere may be found on the company's web site at www.cheniere.com.

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 Information

  • Cheniere Energy, Inc.
    David Castaneda, 713-265-0202 (Investor Relations)