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APRIL 2008 CORPORATE PRESENTATION – Cheniere Energy, Inc.

Cheniere Energy, Inc. · Apr 8, 2008 · 20 slides

Investor presentation from the Shale Experts oil & gas presentation and slide database. Every page is imaged and its text indexed for search across operators, plays, basins and time.

Slides

  1. APRIL 2008 CORPORATE PRESENTATION – Cheniere Energy, Inc. – slide 1
    CHENIERE ENERGY Corporate Presentation April 2008
  2. APRIL 2008 CORPORATE PRESENTATION – Cheniere Energy, Inc. – slide 2
    Summary Components of Value 90.6% Interest in Cheniere Energy Partners (CQP) GP Interest, 3.3 mm shares (5.6MM), 18MM annual management fees Common Interest, 10.9MM shares (18.7MM annual distribution) Subordinated Interest, 135.4MM…
  3. APRIL 2008 CORPORATE PRESENTATION – Cheniere Energy, Inc. – slide 3
    Cheniere Energy Partners, L.P. (AMEX: CQP) Sabine Pass LNG, L.P. Cheniere Energy, Inc. 90.6% Sabine Pass Construction Site April 2008 4 Bcf/d capacity contracted at Sabine Pass facility resulting in annual revenues of…
  4. APRIL 2008 CORPORATE PRESENTATION – Cheniere Energy, Inc. – slide 4
    Sabine Pass LNG, L.P. Market Comps for Asset Value Capacity Valuation* Billon per Bcf/d Freeport 1.5 Bcf/d 1.8 Billion 1.2 Golden Pass 2.0 Bcf/d 2.6 Billion 1.3 Pascagoula 1.3 Bcf/d 1.4 Billion 1.1 *Valuations are based…
  5. APRIL 2008 CORPORATE PRESENTATION – Cheniere Energy, Inc. – slide 5
    Creole Trail Pipeline Cheniere Energy, Inc. 100% Cost: 550 million Free Cash Flow at Full Capacity: 66 million Length: 150 miles total; 94 miles currently under construction; 2.0 Bcf/d Diameter: 42-inches Expected In-Service Date:…
  6. APRIL 2008 CORPORATE PRESENTATION – Cheniere Energy, Inc. – slide 6
    Freeport LNG Development, L.P. Cheniere Energy, Inc. 30% Osaka Gas 10% Equity Valuation: 68 MM Implied 100% Equity Value: 0.7 B Debt: 1.1 B Total Value: 1.8 B Capacity: 1.55 Bcf/d Estimated Annual Distribution on Chenieres 30% LP…
  7. APRIL 2008 CORPORATE PRESENTATION – Cheniere Energy, Inc. – slide 7
    Cheniere Development Projects Corpus Christi LNG, LLC 212 acres in San Patricio County, TX 2.6 Bcf/d permitted vaporization 10.1 Bcfe permitted storage Creole Trail LNG, L.P. 1,750 acres in Cameron Parish, LA 3.3 Bcf/d permitted…
  8. APRIL 2008 CORPORATE PRESENTATION – Cheniere Energy, Inc. – slide 8
    Estimated Future Cash Flows Annualized as of in MM Q3 2009 Freeport 15 CMI TUA with…
  9. APRIL 2008 CORPORATE PRESENTATION – Cheniere Energy, Inc. – slide 9
    Potential Marketing Earnings-Simplified View 30 Cargoes 1.00 Gross Margin: 90 million 70 Cargoes 1.00 Gross Margin: 210 million CMI Capacity 240 Cargoes 10
  10. APRIL 2008 CORPORATE PRESENTATION – Cheniere Energy, Inc. – slide 10
    Condensed Balance Sheet December 31, 2007 (in millions) Cheniere Energy Other Cheniere Consolidated Partners, L.P. Energy, Inc. (1) Cheniere Energy, Inc. (3) Unrestricted cash (2) -- 297 297 Restricted cash and securities 709…
  11. APRIL 2008 CORPORATE PRESENTATION – Cheniere Energy, Inc. – slide 11
    Global Liquefaction Capacity Plants under construction will increase global capacity by 45% Bcf/d Firm Advancing 45 40 35 30 25 20 15 10 5 0 08Q1 08Q2 08Q3 08Q4 09Q1 09Q2 09Q3 09Q4 10Q1 10Q2 10Q3 10Q4 11Q1…
  12. APRIL 2008 CORPORATE PRESENTATION – Cheniere Energy, Inc. – slide 12
    New Liquefaction Competes for Market Share Existing Liquefaction Under Construction Proposed Liquefaction 2010 Liquefaction Capacity Atlantic Atlantic Basin Basin 2007 Consumption 12 12 Bcf/d Bcf/d 2007 2007 NA NA 2007…
  13. APRIL 2008 CORPORATE PRESENTATION – Cheniere Energy, Inc. – slide 13
    2007 in Perspective 6 Europe LNG Imports (Bcf/d) UK 5 Turkey Very mild winter 4 Spain New Norwegian supply 3 Portugal Good Hydro generation Italy in Spain 2 Greece Growth in Wind 1 France generation in Spain Belgium 0 2004 2005…
  14. APRIL 2008 CORPORATE PRESENTATION – Cheniere Energy, Inc. – slide 14
    Liquefaction 2008 to 2010 Additions Incremental Supply Currently Under Construction = 11 Bcf/d 16 14 12 10 5.1 8 6 4 3.9 2 0 Bcf/d ME Gulf Pacific AB Existing end of 2007 Additions Source: Cheniere research 15
  15. APRIL 2008 CORPORATE PRESENTATION – Cheniere Energy, Inc. – slide 15
    2007 - Spot LNG Trade Spot trade rising overall and as a percent of total trade Liquidity is improving Spot Suppliers retain flexibility Percent Total (Bcf/d) Market needs optimization LNG Trade 6.0 25% 5.0 20% 4.0 15%…
  16. APRIL 2008 CORPORATE PRESENTATION – Cheniere Energy, Inc. – slide 16
    Flexible LNG to the Atlantic Basin 12 Bcf/d of LNG with access to Atlantic Basin has destination flexibility Additional volumes could become flexible should the contract parties agree Flexible LNG to the Atlantic Basin Bcf/d by…
  17. APRIL 2008 CORPORATE PRESENTATION – Cheniere Energy, Inc. – slide 17
    Treadmill Effect: Lower 48 Production grew 1.6 Bcf/d in 2007 after 5-year drilling up-cycle Lower 48 Gas Supply v/s Rig Count Active Gas Rigs Bcf/d 1500 56 1 Bcf/d 1400 Independence 54 Hub starts 1300 1200 52 1100 50 1000…
  18. APRIL 2008 CORPORATE PRESENTATION – Cheniere Energy, Inc. – slide 18
    US Demand US Market grew 4 Bcf/d in 2007 US Demand (Bcf/d) 2007 70 Demand 63.9 63.0 61.0 61.3 60.3 63.2 +6.5% 60.9 59.3 60 14.3 15.5 14.6 14.1 15.0 16.1 18.8 Power 50 17.1 +9.9% 40 22.3 20.1 20.6 19.6 19.8 Industrial…
  19. APRIL 2008 CORPORATE PRESENTATION – Cheniere Energy, Inc. – slide 19
    New Power Plants in US 75 GW of gas-fired capacity planned through 2015 Planned US Gas Capacity (GW) 25 20 15 10 5 0 10 11 12 07 08 09 13 14 15 20 20 20 20 20 20 20 20 20 20 Source:…
  20. APRIL 2008 CORPORATE PRESENTATION – Cheniere Energy, Inc. – slide 20
    Conclusion Limitation on world-wide markets ability to absorb additional volumes, especially on a seasonal basis will validate value of spare capacity. Supply/Demand picture in the U.S. will exacerbate the issue and will lead…

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