HOUSTON–(BUSINESS WIRE)–Cheniere Energy Partners, L.P. (“Cheniere Partners”) (NYSE American:
CQP) announced today that Substantial Completion of Train 5 of
the Sabine Pass liquefaction project in Cameron Parish, Louisiana (the
“SPL Project”) was achieved on March 7, 2019. Commissioning has been
completed and Cheniere Partners’ EPC partner Bechtel Oil, Gas and
Chemicals, Inc. (“Bechtel”) has turned over care, custody, and control
of Train 5 to Cheniere Partners.
Under sale and purchase agreements (“SPAs”) with Centrica plc and Total
Gas & Power North America, Inc., the date of first commercial delivery
is expected to occur in August 2019, upon which the term of each of
these SPAs commences.
Cheniere Partners and Bechtel have now declared Substantial Completion
on five liquefaction trains at the SPL Project ahead of each train’s
guaranteed completion date and within project budgets. With the
achievement of Substantial Completion, financial results of LNG sales
from Train 5 going forward will be reflected in the statement of
operations of Cheniere Partners and its applicable affiliates.
About Cheniere Partners
Cheniere Partners, through its subsidiary, Sabine Pass Liquefaction, LLC
(“Sabine Pass Liquefaction”), is developing, constructing, and operating
natural gas liquefaction facilities at the Sabine Pass LNG terminal
located in Cameron Parish, Louisiana, on the Sabine-Neches Waterway less
than four miles from the Gulf Coast. Cheniere Partners, through Sabine
Pass Liquefaction, plans to construct six Trains, which are in various
stages of development, construction, and operations. Trains 1 through 5
are operational and Train 6 is being commercialized and has all
necessary regulatory approvals in place. Each Train is expected to have
a nominal production capacity, which is prior to adjusting for planned
maintenance, production reliability, potential overdesign, and
debottlenecking opportunities, of approximately 4.5 mtpa of LNG and a
run rate adjusted nominal production capacity of approximately 4.5 to
4.9 mtpa of LNG.
Through its wholly owned subsidiary, Sabine Pass LNG, L.P., Cheniere
Partners owns and operates regasification facilities at the Sabine Pass
LNG terminal, which includes pre-existing infrastructure of five LNG
storage tanks with aggregate capacity of approximately 16.9 billion
cubic feet equivalent, two marine berths that can each accommodate
vessels with nominal capacity of up to 266,000 cubic meters and
vaporizers with regasification capacity of approximately 4.0 Bcf/d.
Cheniere Partners also owns a 94-mile pipeline that interconnects the
Sabine Pass LNG terminal with a number of large interstate pipelines
through its wholly owned subsidiary, Cheniere Creole Trail Pipeline, L.P.
For additional information, please refer to the Cheniere Partners
website at www.cheniere.com
and Annual Report on Form 10-K for the fiscal year ended December 31,
2018, filed with the Securities and Exchange Commission.
This press release contains certain statements that may include
“forward-looking statements.” 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
Partners’ financial and operational guidance, 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 Partners’ LNG terminal and liquefaction business, (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 Partners 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 Partners’ 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
Partners’ 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 Partners does not assume a duty to update these forward-looking
Cheniere Energy Partners, L.P.
Megan Light, 713-375-5492
Eben Burnham-Snyder, 713-375-5764