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MARCH 2009 CORPORATE PRESENTATION – Cheniere Energy, Inc.

Cheniere Energy, Inc. · Mar 2, 2009 · 22 slides

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Slides

  1. MARCH 2009 CORPORATE PRESENTATION – Cheniere Energy, Inc. – slide 1
    CHENIERE ENERGY Cheniere Energy Corporate Presentation March 2009
  2. MARCH 2009 CORPORATE PRESENTATION – Cheniere Energy, Inc. – slide 2
    Cheniere Business Segments Cheniere Energy Terminals Pipelines Marketing Sabine Pass LNG(SPLNG) (90.6%) Creole Trail P/L (100%) 2.0 Bcf/d SPLNG TUA Freeport LNG (30%) Approved Permits: MSPAs with major LNG suppliers, Creole…
  3. MARCH 2009 CORPORATE PRESENTATION – Cheniere Energy, Inc. – slide 3
    Freeport LNG Development, L.P. Cheniere Energy, Inc. 30% Freeport LNG Terminal Site August 2008 Estimated Annual Sold Terminal Use Capacity Distribution to Cheniere* Agreement (TUA) (MM) Conoco 0.90 Bcf/d Dow 0.50 Bcf/d 15…
  4. MARCH 2009 CORPORATE PRESENTATION – Cheniere Energy, Inc. – slide 4
    Sabine Pass LNG Best in Class Asset Cheniere Energy, Inc. 90.6% Sabine Pass LNG June 2008 Vaporization 4.3 Bcf/d peak send-out Storage 5 tanks x 160,000 cm (16.8 Bcfe) Berthing / Unloading Two docks LNG carriers up to 266,000…
  5. MARCH 2009 CORPORATE PRESENTATION – Cheniere Energy, Inc. – slide 5
    Creole Trail Pipeline Cheniere Energy, Inc. 100% Provides optimal market access for LNG from the Sabine Pass terminal First 94 miles complete and in-service, additional 58 miles permitted Size: 2.0 Bcf/d Diameter: 42-inch…
  6. MARCH 2009 CORPORATE PRESENTATION – Cheniere Energy, Inc. – slide 6
    Strategic Focus Commercial - monetize 2 Bcf/d regas capacity at Sabine Pass receiving terminal held by Cheniere Marketing International LNG marketing efforts Seek long-term TUAs, LNG purchase/sales agreements Purchase spot cargoes…
  7. MARCH 2009 CORPORATE PRESENTATION – Cheniere Energy, Inc. – slide 7
    LNG Market Themes North America LNG Imports Bcf/d 6 5 4 3 2 1 0 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 2006: Regas plants under construction in North America 2007: Regas capacity constraints; 2 Bcf/d…
  8. MARCH 2009 CORPORATE PRESENTATION – Cheniere Energy, Inc. – slide 8
    Historical Gas and LNG Demand by Region, Bcf/d OECD Piped Imports from Norway, Netherlands, European LNG Imports Algeria, Russia 40 10 8 30 6 20 4 10 2 0 0 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May…
  9. MARCH 2009 CORPORATE PRESENTATION – Cheniere Energy, Inc. – slide 9
    Incremental World Liquefaction Capacity Bcf/d Liquefaction Capacity Additions by Region 3.00 MEG Asia Pacific AP AB 2.50 Middle East Gulf Atlantic Basin 2.00 1.50 1.00 0.50 - 13Q2 13Q3 13Q4 13Q1 12Q4…
  10. MARCH 2009 CORPORATE PRESENTATION – Cheniere Energy, Inc. – slide 10
    European Gas Storage Inventory - Bcf Region Withdrawals 01/26 - 02/02 (Bcf) Baumagarten 17.73 Germany 18.50 Iberia 9.50 NBP & ZEE 10.84 PEG 20.20 PSV 9.18 TTF 3.25 Total 89.19 71 46% 216 50% 131 201 42% 52% 128 63%…
  11. MARCH 2009 CORPORATE PRESENTATION – Cheniere Energy, Inc. – slide 11
    European* Suppliers are Undertaking a Significant Expansion of Pipeline Capacity Large and Growing Piped Gas Supply Consumption 2007: 50 Bcf/d Existing Pipeline Production New Pipeline 2007: 28 Bcf/d Expansion Piped Gas Import…
  12. MARCH 2009 CORPORATE PRESENTATION – Cheniere Energy, Inc. – slide 12
    Projected LNG Flows in 2010 Existing Liquefaction Under Construction Proposed Liquefaction 2010 Liquefaction Capacity 2010 Consumption 2010 2010 Europe Europe 66 -- 88 Bcf/d Bcf/d Asia Asia Pacific Pacific ME ME Gulf Gulf…
  13. MARCH 2009 CORPORATE PRESENTATION – Cheniere Energy, Inc. – slide 13
    Potential Supply Scenario Production Bcf/d Nameplate Capacity 37 Delivered LNG 33 Capacity Factor 88% Consumption Europe 6-8 Asia Pacific 17 - 19 All others including Canada 0.5 - 1 Total Non U.S./Canada Consumption 24 -…
  14. MARCH 2009 CORPORATE PRESENTATION – Cheniere Energy, Inc. – slide 14
    Domestic Implications The supply scenario is independent of world prices, and is driven by an unprecedented short-term expansion in liquefaction capacity If the growth in unconventional domestic production continues, these two…
  15. MARCH 2009 CORPORATE PRESENTATION – Cheniere Energy, Inc. – slide 15
    Appendix
  16. MARCH 2009 CORPORATE PRESENTATION – Cheniere Energy, Inc. – slide 16
    European* Natural Gas Demand Projection Consumption Domestic Production 2007 = 50 Bcf/d 2007 = 28 Bcf/d Regional Regional Demand Demand by by Country Country (2007) (2007) 2010 = 57 Bcf/d 2010 = 29 Bcf/d LNG Import Capacity…
  17. MARCH 2009 CORPORATE PRESENTATION – Cheniere Energy, Inc. – slide 17
    Asia Pacific* Natural Gas Demand Projection Regional Regional Demand Demand by by Country Country (2007) (2007) Consumption Pipeline Import 2007 = 27 Bcf/d Capacity 2010 = 29 Bcf/d Eventually Large LNG Import Capacity…
  18. MARCH 2009 CORPORATE PRESENTATION – Cheniere Energy, Inc. – slide 18
    Estimated Future Cash Flows ( in MM) Annualized* Receipts Freeport 10-20 Distributions from CQP 254 Management fees 19 Disbursements CMI TUA Sabine Pass 252 G&A 30-40 Pipeline & tug services 10-20 Other, incl adv tax payments…
  19. MARCH 2009 CORPORATE PRESENTATION – Cheniere Energy, Inc. – slide 19
    Expected Cash Flows Between LNG and CQP/Sabine ( in mm) FY Cash Received by Cheniere Distributions paid from CQP (1.70) (1) General Partner Units (3.3mm) 5.6 Subordinated Units (135.4mm) 230.2 Common Units (10.9mm) 18.5 254.3…
  20. MARCH 2009 CORPORATE PRESENTATION – Cheniere Energy, Inc. – slide 20
    Condensed Balance Sheet December 31, 2008 (in millions) Cheniere Energy Other Cheniere Consolidated Partners, L.P. Energy, Inc. (1) Cheniere Energy, Inc. (3) Unrestricted cash (2) -- 102 102 Restricted cash and securities 395 66…
  21. MARCH 2009 CORPORATE PRESENTATION – Cheniere Energy, Inc. – slide 21
    Contracted Capacity TUAs Summary of 20-year Terminal Use Agreements Total LNG Chevron USA Cheniere Marketing Capacity 1.0 Bcf/d 1.0 Bcf/d 2.0 Bcf/d Fees (1) (2) Reservation Fee 0.28/MMBTU 0.28/MMBTU 0.28/MMBTU (3) Opex Fee…
  22. MARCH 2009 CORPORATE PRESENTATION – Cheniere Energy, Inc. – slide 22
    Organizational Structure NYSE Alternext US: LNG 325 mm 2.25% Convertible Senior Unsecured Notes due 2012 100% Ownership Interest Cheniere LNG Holdings, LLC 400 mm Term Loan due 2012 (Interest rate - 9.75%) 250 mm 12.0%…

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