HOUSTON, July 30, 2015 /PRNewswire/ -- Cheniere
Energy, Inc. ("Cheniere") (NYSE MKT: LNG) through its subsidiary,
Cheniere Marketing International LLP ("Cheniere Marketing"), has
entered into a liquefied natural gas ("LNG") sale and purchase
agreement ("SPA") with Central El Campesino, under which Central El
Campesino would purchase approximately 0.6 million tonnes per annum
("mtpa") of LNG delivered ex-ship for 20 years beginning in 2019
from the Corpus Christi Liquefaction Project currently under
construction near Corpus Christi,
Texas.
Central El Campesino is developing a 640 MW gas-fired
combined-cycle power plant in Chile which is expected to provide power into
Chile's Central Interconnected
System (SIC). In the December 2014
power auction, Central El Campesino won a bid to sell approximately
480 MW to local distribution companies (LDC's), which would
underpin the construction of the power plant. The LNG would be
delivered, stored and regasified at the proposed floating storage
regasification unit (FSRU), Penco Lirquén LNG Terminal.
Biobiogenera Executive Director Juan José Gana said "this SPA
means certainty about the future of electricity supply for
consumers, who today experience problems due to the high level of
prices that affect them, and which limits the development
opportunities of the country."
Cheniere's Executive Vice President of Marketing, Meg Gentle said "We look forward to being a
reliable supplier of LNG to Central El Campesino for this important
new gas-fired power plant, which will increase the availability of
power and have a positive impact on the Chilean electricity market.
This transaction is consistent with our strategy of working with
customers on gas to power solutions and developing downstream LNG
markets."
The Central El Campesino power plant is being developed by the
Chilean company Biobiogenera in association with
Electricite de France (EDF). In
order to reach a final investment decision and commence
construction on the Central El Campesino power plant and the Penco
Lirquén LNG Terminal, both projects must receive regulatory
approvals and obtain financing. Cheniere is a fifty-percent partner
in the Penco Lirquén LNG Terminal.
About Cheniere Energy, Inc.
Cheniere Energy, Inc. is a Houston-based energy company primarily engaged
in LNG-related businesses and owns and operates the Sabine Pass LNG
terminal and Creole Trail Pipeline in Louisiana. Cheniere is pursuing related
business opportunities both upstream and downstream of the Sabine
Pass LNG terminal. Through its subsidiary, Cheniere Energy
Partners, L.P., Cheniere is developing a liquefaction project at
the Sabine Pass LNG terminal adjacent to the existing
regasification facilities for up to six Trains, each of which is
expected to have a nominal production capacity of approximately 4.5
mtpa of LNG. Construction has begun on Trains 1 through 5 of the
Sabine Pass Liquefaction Project. Cheniere is also developing
liquefaction facilities near Corpus
Christi, Texas. The Corpus Christi Liquefaction Project is
being designed for up to five Trains, with expected aggregate
nominal production capacity of approximately 22.5 mtpa of LNG, four
LNG storage tanks with capacity of approximately 13.5 Bcfe and two
LNG carrier docks. Construction has begun on the first two Trains
of the CCL Project. Cheniere has agreed in principle to
partner with Parallax Enterprises, LLC for the
development of up to 11 mtpa of LNG production capacity through
Parallax's two mid-scale natural gas liquefaction projects, Live
Oak LNG and Louisiana LNG. For additional information, please refer
to the Cheniere website at www.cheniere.com and Quarterly Report on
Form 10-Q for the quarter ended June 30, 2015, filed with the
Securities and Exchange Commission.
This press release contains certain statements that may include
"forward-looking statements" within the meanings 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 fact, 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, 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's LNG terminal and pipeline businesses,
including liquefaction facilities, (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 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.
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SOURCE Cheniere Energy, Inc.