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SEPTEMBER 2013 CORPORATE PRESENTATION – Cheniere Energy, Inc.

Cheniere Energy, Inc. · Sep 10, 2013 · 38 slides

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Slides

  1. SEPTEMBER 2013 CORPORATE PRESENTATION – Cheniere Energy, Inc. – slide 1
    Cheniere Energy September 2013
  2. SEPTEMBER 2013 CORPORATE PRESENTATION – Cheniere Energy, Inc. – slide 2
    Summary Organizational Structure Cheniere Energy, Inc. (NYSE MKT: LNG) 100% Interest 100% Interest 100% Interest Cheniere Cheniere Energy Corpus Christi Marketing, LLC Partners GP, LLC 55.9% Interest (1) Liquefaction, LLC…
  3. SEPTEMBER 2013 CORPORATE PRESENTATION – Cheniere Energy, Inc. – slide 3
    Projected Global LNG Demand Growth Regional LNG Import Outlook (mtpa)* Europe 87 123 152 2015 2020 2030 Americas Asia 18 20 19 2015 2020 2030 Middle East 192 242 310 6 14 30 2015 2020 2030 2015 2020 2030 *Base-case…
  4. SEPTEMBER 2013 CORPORATE PRESENTATION – Cheniere Energy, Inc. – slide 4
    Compelling Price Advantage Current Prices = 1B-3B of Spread for Each Bcf/d Worldwide Gas Prices = 11% to 15% of Crude Oil Estimated Prices Regional Natural Gas & LNG Prices Henry Hub: 4.00 / MMBtu As of August 12, 2013 /MMBtu…
  5. SEPTEMBER 2013 CORPORATE PRESENTATION – Cheniere Energy, Inc. – slide 5
    Brownfield LNG Export Project Utilizes Existing Assets Trains 1-4 Fully Contracted, Under Construction Design production capacity is expected to be 4.5 mtpa per train Current Facility 1,000 acres in Cameron Parish, LA 40 ft ship…
  6. SEPTEMBER 2013 CORPORATE PRESENTATION – Cheniere Energy, Inc. – slide 6
    LNG Sale and Purchase Agreements (SPAs) 20 mtpa take-or-pay style commercial agreements 2.9B annual fixed fee revenue for 20 years BG Gulf Coast LNG Gas Natural Fenosa Korea Gas Corporation GAIL (India) Limited Total Gas & Power…
  7. SEPTEMBER 2013 CORPORATE PRESENTATION – Cheniere Energy, Inc. – slide 7
    Aerial View of SPL Construction June 2013 Air Coolers Compressor Area T1 Train 1 Train 2 Compressor Area T2 Propane Condenser Foundations Cold Box Foundations 8
  8. SEPTEMBER 2013 CORPORATE PRESENTATION – Cheniere Energy, Inc. – slide 8
    Aerial View of SPL Construction August 2013 9
  9. SEPTEMBER 2013 CORPORATE PRESENTATION – Cheniere Energy, Inc. – slide 9
    Corpus Christi Liquefaction Project Design production capacity is expected to be 4.5 mtpa per train Proposed 3 Train Facility HoustonNew Orleans 1,000 acres owned and/or controlled Corpus Christi 2 berths, 3 LNG storage tanks (10.1…
  10. SEPTEMBER 2013 CORPORATE PRESENTATION – Cheniere Energy, Inc. – slide 10
    Corpus Christi Liquefaction, LLC Competitive With Other Recent Greenfield Liquefaction Projects Range of liquefaction project costs: 200 - 2,000+ per ton 1 Bcf/d of capacity = 1.5B to 15.0B+ Corpus Christi liquefaction project…
  11. SEPTEMBER 2013 CORPORATE PRESENTATION – Cheniere Energy, Inc. – slide 11
    Regulatory Approvals LNG Export Projects DOE export approvals and FERC construction and operation approvals needed for Corpus Christi Liquefaction Trains 1-3 and Sabine Pass Liquefaction Trains 5&6 Corpus Christi Trains 1-3: Filed…
  12. SEPTEMBER 2013 CORPORATE PRESENTATION – Cheniere Energy, Inc. – slide 12
    FERC Applications Filed for Liquefaction Projects LNG Export Projects Pre-filing Date Application Date FERC Scheduling Recd Approval Notice Issued Sabine Pass Liquefaction July 26, 2010 Jan. 31, 2011 Corpus Christi Liquefaction…
  13. SEPTEMBER 2013 CORPORATE PRESENTATION – Cheniere Energy, Inc. – slide 13
    U.S. DOE Applications for LNG Exports* Date Applicant Expected Date Received FERC Quantity Order to be Company Non FTA FERC** Contracts Approval to Begin (Bcf/d) Processed (1) Received Pre-Filing Process Cheniere Sabine Pass…
  14. SEPTEMBER 2013 CORPORATE PRESENTATION – Cheniere Energy, Inc. – slide 14
    CMI SPA Excess Volumes from Trains 1-4 at SPL CMI-SPL SPA provides CMI with up to 2 mtpa of LNG delivered FOB Sabine Pass starting with the initial production from Train 1 Maximum Annual Contract Quantity of up to 104 TBtu/year from…
  15. SEPTEMBER 2013 CORPORATE PRESENTATION – Cheniere Energy, Inc. – slide 15
    Example Annual Cash Flow on CMI SPA ( in millions unless noted) LNG sold 104 Bcf/year Net profit (after LNG costs, shipping and G&A) (MMBtu) 10 Net profit 1,040 Paid to Sabine Pass Liquefaction(1) (250) CQP Remaining at CMI…
  16. SEPTEMBER 2013 CORPORATE PRESENTATION – Cheniere Energy, Inc. – slide 16
    Timeline & Milestones Target Date SPL Corpus SPL Milestone T1-2 T3-4 Christi T5-6 Initiate permitting process (FERC & DOE) Commercial agreements T5: 2014 T6:2014 EPC contract 2013/14 2015 Financing commitments 2014 2015…
  17. SEPTEMBER 2013 CORPORATE PRESENTATION – Cheniere Energy, Inc. – slide 17
    Financial Estimates (includes SPL Trains 1-4)
  18. SEPTEMBER 2013 CORPORATE PRESENTATION – Cheniere Energy, Inc. – slide 18
    SPLNG Estimated Cash Flows (With Trains 1 4 Operational) ( in millions) Annualized Total 127 Chevron 133 SPL 290 Other 10 Total Revenues 560 Total Expenses (65) EBITDA (1) 495 Debt Service (2) (130) Distributable cash flow…
  19. SEPTEMBER 2013 CORPORATE PRESENTATION – Cheniere Energy, Inc. – slide 19
    SPL Estimated Cash Flows Expect 3X EBITDA: Debt Service Coverage And < 5X Debt: EBITDA ( in millions) Trains 1-4 Trains 1-6 BG 725 725 Gas Natural 455 455 KOGAS 550 550 GAIL 550 550 Total - 315 Centrica - 275 Commodity…
  20. SEPTEMBER 2013 CORPORATE PRESENTATION – Cheniere Energy, Inc. – slide 20
    CQP Estimated Distributable Cash Flows Trains 1-4 ( in millions) SPLNG distributable cash flow 365 SPL distributable cash flow 1,285 CTPL distributable cash flow 40 CQP expenses (15) Total distributable cash flow 1,675 Total…
  21. SEPTEMBER 2013 CORPORATE PRESENTATION – Cheniere Energy, Inc. – slide 21
    Cheniere Estimated Steady State Cash Flows (With Trains 1 4) ( in millions) Annualized Cheniere Energy, Inc. Distributions from CQP 985 Management fees 50 CEI expenses and other (85) Net Cash Flows 950 plus: Est. CF generated…
  22. SEPTEMBER 2013 CORPORATE PRESENTATION – Cheniere Energy, Inc. – slide 22
    Summary Organizational Structure ( in millions) No Debt Cheniere Energy, Inc. (NYSE MKT: LNG) Corpus Christi CQP GP Cheniere Marketing Liquefaction (& IDRs) Cheniere Energy Partners, L.P. 58% Cheniere Energy, Inc. (1) 29%…
  23. SEPTEMBER 2013 CORPORATE PRESENTATION – Cheniere Energy, Inc. – slide 23
    Appendix
  24. SEPTEMBER 2013 CORPORATE PRESENTATION – Cheniere Energy, Inc. – slide 24
    Operating Assets Sabine Pass LNG Terminal Creole Trail Pipeline 25
  25. SEPTEMBER 2013 CORPORATE PRESENTATION – Cheniere Energy, Inc. – slide 25
    Contracted Capacity at SPLNG Third Party Terminal Use Agreements (TUAs) Long-term, 20 year take-or-pay style commercial contracts 253MM annual fixed fee revenue Total Gas & Power N.A. Chevron U.S.A. Inc. Capacity 1.0 Bcf/d 1.0…
  26. SEPTEMBER 2013 CORPORATE PRESENTATION – Cheniere Energy, Inc. – slide 26
    Construction Completion Schedules Trains 1-4 2012 2013 2014 2015 2016 2017 2018 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 52 53 54 55…
  27. SEPTEMBER 2013 CORPORATE PRESENTATION – Cheniere Energy, Inc. – slide 27
    LSTK EPC Contract with Bechtel Minimize Construction Costs and Risks Why Bechtel Constructed one-third of the worlds liquefaction facilities - more than any other contractor Top US construction contractor for 15 straight years by…
  28. SEPTEMBER 2013 CORPORATE PRESENTATION – Cheniere Energy, Inc. – slide 28
    Creole Trail Pipeline Expansion In May 2013, Cheniere Partners acquired CTPL from Cheniere Energy, Inc. for 480MM CTPL secured a 400 million senior secured term loan facility CTPL will be fully contracted with SPL; expected annual…
  29. SEPTEMBER 2013 CORPORATE PRESENTATION – Cheniere Energy, Inc. – slide 29
    2012 Global LNG Supply & Demand LNG Importers - Price Indexation 2012 Global LNG Capacity: 37.3 Bcf/d Oil Products Alge ria - 2.7 2012 Global LNG Demand: 31.5 Bcf/d Natural Gas Norway - 0.6 Japan Crude Cocktail Eg ypt - 1.6 Qatar…
  30. SEPTEMBER 2013 CORPORATE PRESENTATION – Cheniere Energy, Inc. – slide 30
    U.S. Natural Gas Markets US Gas Consumptions vs. Production US Proved Non-Producing Reserves Tcf Tcf 30 25.7 24.4 25.5 23.1 23.3 24.1 120 22.0 22.9 25 21.7 100 113 24.0 24.0 20 22.9 98 20.6 21.3 80 19.3 20.2 85 15 18.1 18.5…
  31. SEPTEMBER 2013 CORPORATE PRESENTATION – Cheniere Energy, Inc. – slide 31
    Strategically Located Extensive Market Access to Gas Lower 48 Primary Gas Sources for Sabine Pass Liquefaction Recoverable Unconventional Reserves (Tcf) Conventional Gulf Coast Onshore; Barnett; Haynesville; Bossier; Eagle Ford…
  32. SEPTEMBER 2013 CORPORATE PRESENTATION – Cheniere Energy, Inc. – slide 32
    Multiple Local Pipeline Interconnections Provide Several Options for Access to Natural Gas Supply Cheniere Creole Trail Pipeline Trunkline Kinder Morgan Louisiana Pipeline NGPL Texas to Louisiana (bi-directional) Pine Prairie…
  33. SEPTEMBER 2013 CORPORATE PRESENTATION – Cheniere Energy, Inc. – slide 33
    Projected Firm Liquefaction Capacity Additions Nameplate Liquefaction Capacity Bcf/d 37 Bcf/d as of YE 2012 3.00 51.5 Bcf/d by YE 2018 2.75 Asia Pacific Gorgon T1, Curtis T1 & Donggi LNG 2.50 Atlantic Basin Gassi Touil 2.25…
  34. SEPTEMBER 2013 CORPORATE PRESENTATION – Cheniere Energy, Inc. – slide 34
    Conversion of Class B and Subordinated Units Class B Units: Mandatory conversion: within 90 days of the substantial completion of Train 3 Optional conversion by a Class B unitholder may occur at any of the following times: After 83…
  35. SEPTEMBER 2013 CORPORATE PRESENTATION – Cheniere Energy, Inc. – slide 35
    Pro Forma CQP Ownership (in millions) CEI Blackstone Public Total Common units (1) 12.0 45.1 57.1 Class B units (1) 45.3 100.0 145.3 Subordinated units (1) 135.4 135.4 General Partner 2% 6.9 6.9 199.6 100.0 45.1 344.7 Percent…
  36. SEPTEMBER 2013 CORPORATE PRESENTATION – Cheniere Energy, Inc. – slide 36
    Condensed Balance Sheets As of June 30, 2013 (in millions) Cheniere Energy Other Cheniere Consolidated Cheniere (1) (2) Partners, L.P. Energy, Inc. Energy, Inc. Cash and cash equivalents - 397 397 Restricted cash and cash…
  37. SEPTEMBER 2013 CORPORATE PRESENTATION – Cheniere Energy, Inc. – slide 37
  38. SEPTEMBER 2013 CORPORATE PRESENTATION – Cheniere Energy, Inc. – slide 38
    Investor Relations Contacts: Nancy Bui: Director, Investor Relations (713) 375-5280, nancy.buicheniere.com Christina Burke: Manager, Investor Relations (713) 375-5104, christina.burkecheniere.com

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