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Cheniere Partners Announces Debt Financing for Train 5 at the Sabine Pass Liquefaction Project

Source: www.gulfoilandgas.com 6/29/2015, Location: North America

Cheniere Energy Partners, L.P. announced that Sabine Pass Liquefaction, LLC ("Sabine Pass Liquefaction") has engaged 18 financial institutions to act as Joint Lead Arrangers to assist in the structuring and arranging of up to approximately $5.8 billion of debt facilities, including approximately $4.6 billion of credit facilities and an approximately $1.2 billion revolving credit facility. Sabine Pass Liquefaction will amend and upsize its existing credit facilities to increase the available commitments to fund a portion of the costs of developing, constructing, and placing into service the first five liquefaction trains of the Sabine Pass liquefaction project ("Sabine Pass Liquefaction Project") in Cameron Parish, Louisiana, and for general business purposes. The Sabine Pass Liquefaction Project is being designed for up to six liquefaction trains, each with nominal production capacity of approximately 4.5 million tonnes per annum ("mtpa").

Obtaining financing is one of the last milestones to complete before proceeding with construction of Train 5 of the Sabine Pass Liquefaction Project. Cheniere Partners expects to close the credit facilities and issue a notice to proceed to Bechtel Oil, Gas and Chemicals, Inc. for Train 5 in due course.

Cheniere Partners owns 100 percent of the Sabine Pass LNG terminal located on the Sabine Pass deep water shipping channel less than four miles from the Gulf Coast. The Sabine Pass LNG terminal includes existing infrastructure of five LNG storage tanks with capacity of approximately 16.9 billion cubic feet equivalent (Bcfe), two docks that can accommodate vessels with nominal capacity of up to 266,000 cubic meters and vaporizers with regasification capacity of approximately 4.0 Bcf/d.

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Related Articles: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Insurance  Investment  Mergers and Acquisitions  Risk Management 


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