Cheniere Announces Substantial Completion of Train 6 at the Sabine Pass Liquefaction Project

Rhea-AI Summary

Cheniere Energy Partners, L.P. (CQP) achieved Substantial Completion of Train 6 at the Sabine Pass liquefaction project on February 4, 2022, ahead of schedule and within budget. This marks the completion of all six liquefaction trains at Sabine Pass, enhancing CQP's production capacity to approximately 30 mtpa of LNG. Financial results from Train 6 will now contribute to CQP's operations. The project highlights the effective collaboration between Cheniere and Bechtel, positioning CQP to expand further in the LNG market.

Positive

• Substantial Completion of Train 6 achieved ahead of schedule and within budget.
• Total production capacity increased to approximately 30 mtpa of LNG.
• All six liquefaction trains at Sabine Pass completed successfully.

Negative

• None.

HOUSTON--(BUSINESS WIRE)-- Cheniere Energy Partners, L.P. (“Cheniere Partners”) (NYSE American: CQP), a subsidiary of Cheniere Energy, Inc. (“Cheniere”) (NYSE American: LNG), announced today that Substantial Completion of Train 6 at the Sabine Pass liquefaction project in Cameron Parish, Louisiana (the “SPL Project”) was achieved on February 4, 2022. Commissioning is complete and Cheniere’s engineering, procurement and construction partner, Bechtel Oil, Gas and Chemicals, Inc. (“Bechtel”) has turned over care, custody, and control of Train 6 to Cheniere Partners.

Cheniere Partners and Bechtel have now declared Substantial Completion on all six 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 liquefied natural gas (“LNG”) sales from Train 6 going forward will be reflected in the statement of operations of Cheniere Partners and its applicable affiliates.

“The accelerated completion of Train 6 once again reflects the world-class standard of execution consistently achieved by the Cheniere and Bechtel teams, and we are proud to have the six train vision of Sabine Pass completed safely, ahead of schedule and on budget,” said Jack Fusco, Chairman, President and CEO of Cheniere Partners. “With nine total trains across both the Sabine Pass and Corpus Christi projects, the Cheniere liquefaction platform is the second largest in the world, reliably providing our global customer base with clean, secure and affordable energy. We look forward to opportunities to build upon our platform with disciplined, brownfield growth at both sites in the future.”

“Cheniere Partners plays a vital role in delivering reliable and safe energy to communities around the world,” said Brendan Bechtel, Chairman and CEO of Bechtel. “For us to be involved in supporting the development of these extraordinary projects is a great source of pride and we’re honored to help bring Cheniere’s vision to reality.”

“We have built a great partnership, based on trust and shared goals, that continues to deliver cleaner and more affordable energy for an ever-rising global demand for lower carbon alternatives,” added Paul Marsden, President of Bechtel Energy.

About Cheniere Partners

Cheniere Partners owns the Sabine Pass LNG terminal located in Cameron Parish, Louisiana, which has natural gas liquefaction facilities consisting of six operational liquefaction Trains, with a total production capacity of approximately 30 mtpa of LNG. The Sabine Pass LNG terminal also has operational regasification facilities that include five LNG storage tanks, vaporizers, and two marine berths with a third marine berth under construction. Cheniere Partners also owns the Creole Trail Pipeline, which interconnects the Sabine Pass LNG terminal with a number of large interstate pipelines.

For additional information, please refer to the Cheniere Partners website at www.cheniere.com and Quarterly Report on Form 10-Q for the quarter ended September 30, 2021, filed with the Securities and Exchange Commission.

Forward-Looking Statements

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 regulatory authorization and approval expectations, (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, (vi) statements regarding future discussions and entry into contracts, and (vii) statements regarding the COVID-19 pandemic and its impact on our business and operating results. 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 statements.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220204005359/en/

Cheniere Energy Partners, L.P.

Investors

Randy Bhatia

713-375-5479

Frances Smith

713-375-5753

Media Relations

Eben Burnham-Snyder

713-375-5764

Source: Cheniere Energy Partners, L.P. and Cheniere Energy, Inc.

FAQ

What is the significance of Train 6 completion for CQP and LNG?

The completion of Train 6 enhances CQP's production capacity, allowing for increased LNG sales and financial performance.

When was Substantial Completion of Train 6 announced?

Substantial Completion of Train 6 was announced on February 4, 2022.

How many total trains does Cheniere operate at Sabine Pass?

Cheniere operates a total of six liquefaction trains at the Sabine Pass facility.

What is Cheniere's production capacity after Train 6 completion?

Cheniere's production capacity is approximately 30 mtpa of LNG after the completion of Train 6.

Who oversaw the construction of Train 6?

The construction of Train 6 was overseen by Bechtel Oil, Gas and Chemicals, Inc.