HOUSTON, March 31, 2017 /PRNewswire/ -- Cheniere
Energy Partners, L.P. ("Cheniere Partners") (NYSE MKT: CQP)
today announced that Substantial Completion of Train 3 of
the Sabine Pass liquefaction project in Cameron
Parish, Louisiana (the "SPL Project") was achieved on
March 28, 2017. Commissioning has
been completed and Cheniere Partners' EPC partner Bechtel Oil, Gas
and Chemicals, Inc. is turning over care, custody, and control of
Train 3 to Cheniere Partners.
Under a sale and purchase agreement ("SPA") with Korea Gas
Corporation, the date of first commercial delivery ("DFCD") for
Train 3 of the SPL Project is expected to occur in June 2017, upon which the SPA's 20-year term
commences.
With the achievement of Substantial Completion, financial
results of LNG sales from Train 3 going forward will be reflected
in the statement of operations of Cheniere Partners and its
affiliates.
Cheniere Partners, through its subsidiary, Sabine Pass
Liquefaction, LLC ("SPL"), is developing, constructing and
operating natural gas liquefaction facilities at the Sabine Pass
LNG terminal adjacent to the existing regasification
facilities. Cheniere Partners, through SPL, plans to construct
over time up to six liquefaction trains, which are in various
stages of development, construction and operations. Trains 1, 2,
and 3 have achieved Substantial Completion, Train 4 is in the
commissioning process, Train 5 is under construction, and Train 6
is fully permitted and being commercialized. Each liquefaction
train is expected to have a nominal production capacity, which is
prior to adjusting for planned maintenance, production reliability
and potential overdesign, of approximately 4.5 million tonnes per
annum ("mtpa") of LNG. SPL has entered into six third-party LNG
SPAs that in the aggregate equate to approximately 19.75 mtpa of
LNG and commence with DFCD 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 Form 10-K for the period
ending December 31, 2016, 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' 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.