HOUSTON, Jan. 14, 2016 /PRNewswire/ -- Cheniere
Energy Partners, L.P. ("Cheniere Partners") (NYSE MKT: CQP)
announced today that it expects to export the first liquefied
natural gas ("LNG") commissioning cargo from its Sabine Pass liquefaction project located in
Cameron Parish, Louisiana in late
February or March 2016. The first
commissioning cargo was initially expected to occur by late
January.
Construction for Train 1 was completed well ahead of the
guaranteed contractual schedule and within budget. However,
instrumentation issues were discovered during the final phases of
plant commissioning and cool down that will require some additional
work over the next few weeks.
"We are now expecting the first cargo in late February or
March," said Neal Shear, Interim
President and CEO. "With construction of Train 1 finished, we
remain well ahead of the guaranteed contractual schedule with
Bechtel and anticipate no issues in meeting all contractual targets
and guaranteed completion dates. Additionally, construction for
Trains 2-5 continues to be on an accelerated schedule and these
trains are expected to come on-line on a staggered basis. Bechtel
will hand over care, custody and control of each train as they
complete its scope of work."
According to Bechtel, "Bechtel has been continually working
towards completing the first unit and working through a few items
that will provide assurance to Cheniere Partners that plant
reliability and performance will be as expected. These last
few items are in final resolution and full LNG production is
planned for late February 2016."
Cheniere Partners owns 100 percent of the Sabine Pass LNG
terminal located on the Sabine-Neches Waterway 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.
Cheniere Partners is developing and constructing natural gas
liquefaction facilities at the Sabine Pass LNG terminal adjacent to
the existing regasification facilities. Cheniere Partners plans to
construct over time up to six liquefaction trains, which are in
various stages of development. Each liquefaction train is expected
to have a nominal production capacity of approximately 4.5 million
tonnes per annum ("mtpa") of LNG. Cheniere Partners has entered
into six third-party LNG sale and purchase agreements ("SPAs") that
in the aggregate equate to approximately 19.75 mtpa of LNG and
commence with the date of first commercial delivery of Trains 1
through 5 as specified in the respective SPAs. 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, 2015,
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 facts, included herein are "forward-looking
statements." Included among "forward-looking statements" are, among
other things, (i) statements regarding Cheniere Partners' 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
statements.
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SOURCE Cheniere Energy Partners, L.P.