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WOLFE TRAHAN DEEP DIVE CONFERENCE – Cheniere Energy, Inc.

Cheniere Energy, Inc. · Apr 11, 2013 · 32 slides

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Slides

  1. WOLFE TRAHAN DEEP DIVE CONFERENCE – Cheniere Energy, Inc. – slide 1
    Cheniere Energy Wolfe Trahan Power & Gas Deep Dive Conference Katie Pipkin Vice President, Finance April 11, 2013
  2. WOLFE TRAHAN DEEP DIVE CONFERENCE – Cheniere Energy, Inc. – slide 2
    Summary Organizational Structure Cheniere Energy, Inc. (NYSE MKT: LNG) 100% Interest 100% Interest 100% Interest 100% Interest 54.4% Interest (1) Cheniere Cheniere Energy Cheniere Creole Corpus Christi Marketing, LLC Partners…
  3. WOLFE TRAHAN DEEP DIVE CONFERENCE – Cheniere Energy, Inc. – slide 3
    Operating Assets Sabine Pass LNG Terminal Creole Trail Pipeline 4
  4. WOLFE TRAHAN DEEP DIVE CONFERENCE – Cheniere Energy, Inc. – slide 4
    Contracted Capacity at SPLNG Third Party Terminal Use Agreements (TUAs) Long-term, 20 year take-or-pay style commercial contracts Total Gas & Power N.A. Chevron U.S.A. Inc. Capacity 1.0 Bcf/d 1.0 Bcf/d Fees (1) (2)…
  5. WOLFE TRAHAN DEEP DIVE CONFERENCE – Cheniere Energy, Inc. – slide 5
    Creole Trail Pipeline In Feb 2013, CTPL received FERC authorization to reconfigure the system for bi-directional flow to source natural gas supply for SPL 65MM of expected annual EBITDA (1) CQP expected to purchase CTPL in due course…
  6. WOLFE TRAHAN DEEP DIVE CONFERENCE – Cheniere Energy, Inc. – slide 6
    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…
  7. WOLFE TRAHAN DEEP DIVE CONFERENCE – Cheniere Energy, Inc. – slide 7
    Projected Global LNG Demand Growth Regional LNG Import Outlook (mmtpa)* 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…
  8. WOLFE TRAHAN DEEP DIVE CONFERENCE – Cheniere Energy, Inc. – slide 8
    Firm Liquefaction Capacity Additions Nameplate Liquefaction Capacity Bcf/d 37 Bcf/d as of YE 2012 3.00 49 Bcf/d by YE 2017 2.75 Asia Pacific Gorgon T1, Curtis T1 & Donggi LNG 2.50 Atlantic Basin Gassi Touil 2.25 Curtis T2 & PNG…
  9. WOLFE TRAHAN DEEP DIVE CONFERENCE – Cheniere Energy, Inc. – slide 9
    U.S. Natural Gas Markets US Gas Consumptions vs. Production US Proved Non-Producing Reserves Tcf Tcf 25.5 26 24.1 24.4 23.1 23.3 22.9 120 24 22.0 21.7 24.1 100 113 22 22.9 98 20 21.3 80 20.2 20.6 85 19.3 78 18 18.5 60 67…
  10. WOLFE TRAHAN DEEP DIVE CONFERENCE – Cheniere Energy, Inc. – slide 10
    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…
  11. WOLFE TRAHAN DEEP DIVE CONFERENCE – Cheniere Energy, Inc. – slide 11
    Compelling Price Advantage Current Prices = 2B-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 /MMBtu As of March 31, 2013 Brent…
  12. WOLFE TRAHAN DEEP DIVE CONFERENCE – Cheniere Energy, Inc. – slide 12
    Commercial Advantages of the Cheniere Model Based on market-supplied Henry Hub indexed feed gas The market, not the project, invests to produce at Henry Hub price Lowers fixed investment recovery Allows customers to cancel loadings…
  13. WOLFE TRAHAN DEEP DIVE CONFERENCE – Cheniere Energy, Inc. – slide 13
    Brownfield Project Utilizes Existing Assets Trains 1-2 Under Construction; Trains 3-4 EPC Contract Signed Train nameplate capacity is expected to be 4.5 mmtpa each Current Facility 1,000 acres in Cameron Parish, LA 40 ft ship…
  14. WOLFE TRAHAN DEEP DIVE CONFERENCE – Cheniere Energy, Inc. – slide 14
    LNG Sale and Purchase Agreements (SPAs) 20 mmtpa 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 (1) GAIL (India) Limited (1) Total Gas…
  15. WOLFE TRAHAN DEEP DIVE CONFERENCE – Cheniere Energy, Inc. – slide 15
    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 14 straight years by…
  16. WOLFE TRAHAN DEEP DIVE CONFERENCE – Cheniere Energy, Inc. – slide 16
    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…
  17. WOLFE TRAHAN DEEP DIVE CONFERENCE – Cheniere Energy, Inc. – slide 17
    Sabine Pass Liquefaction Stage 1 Construction
  18. WOLFE TRAHAN DEEP DIVE CONFERENCE – Cheniere Energy, Inc. – slide 18
    Local Pipeline Interconnections Cheniere Creole Trail Pipeline Trunkline Kinder Morgan Louisiana Pipeline NGPL Texas to Louisiana (bi-directional) Pine Prairie Transco Energy Center Pine Prairie TETCO Texas Gas Transco Z3…
  19. WOLFE TRAHAN DEEP DIVE CONFERENCE – Cheniere Energy, Inc. – slide 19
    SPL Estimated Cash Flows Expect 2.5X EBITDA: Debt Service Coverage And < 5X Debt: EBITDA ( in millions) Trains 1-2 Trains 1-4 Trains 1-6 BG 520 725 725 Gas Natural 455 455 455 KOGAS - 550 550 GAIL - 550 550 Total - - 315…
  20. WOLFE TRAHAN DEEP DIVE CONFERENCE – Cheniere Energy, Inc. – slide 20
    Summary Organizational Structure ( in millions) No Debt Cheniere Energy, Inc. (NYSE MKT: LNG) Cheniere Energy Partners, L.P. 2,000 Class B Equity Units Corpus Christi Cheniere Creole Trail 1,500 Blackstone Liquefaction, LLC…
  21. WOLFE TRAHAN DEEP DIVE CONFERENCE – Cheniere Energy, Inc. – slide 21
    CMI SPA Excess Volumes from Trains 1-4 at SPL CMI-SPL SPA provides CMI with up to 2 mmtpa 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…
  22. WOLFE TRAHAN DEEP DIVE CONFERENCE – Cheniere Energy, Inc. – slide 22
    Corpus Christi Liquefaction Project HoustonNew Orleans Proposed Facility 1,000 acres owned and/or controlled near Corpus Christi Gulf of Mexico Corpus Christi, TX 3 trains, each 4.5 mmtpa nameplate capacity 2 berths 3 LNG…
  23. WOLFE TRAHAN DEEP DIVE CONFERENCE – Cheniere Energy, Inc. – slide 23
    Regulatory Approvals First and only project in Lower 48 to receive all DOE export approvals and FERC construction and operation authorization for four trains SPL Trains 1-4: FERC and DOE authorization received DOE: Authorization to…
  24. WOLFE TRAHAN DEEP DIVE CONFERENCE – Cheniere Energy, Inc. – slide 24
    U.S. LNG Export Projects Capacity DOE FERC Company (Bcf/d) Filing Filing Cheniere Sabine 2.2 (1) Fully permitted Pass Liquefaction Oregon LNG Cheniere Corpus 1.8 Christi Liquefaction Freeport LNG 1.8 Expansion Dominion…
  25. WOLFE TRAHAN DEEP DIVE CONFERENCE – Cheniere Energy, Inc. – slide 25
    Timeline & Milestones Target Date Sabine Pass Corpus Milestone T1-2 T3-4 T5-6 Christi Initiate permitting process (FERC & DOE) Commercial agreements TBD 2H13 EPC contract 2H14 2H13 Financing commitments 1H13 1H15 1H14…
  26. WOLFE TRAHAN DEEP DIVE CONFERENCE – Cheniere Energy, Inc. – slide 26
    Key Highlights Strong LNG market U.S. LNG exports provide access to LNG based on Henry Hub gas prices vs. oil prices fundamentals LNG demand is the fastest-growing component of the global natural gas market U.S. Gulf Coast region is…
  27. WOLFE TRAHAN DEEP DIVE CONFERENCE – Cheniere Energy, Inc. – slide 27
    Appendix
  28. WOLFE TRAHAN DEEP DIVE CONFERENCE – Cheniere Energy, Inc. – slide 28
    Sabine Pass Liquefaction Project Update Liquefaction project includes up to six trains in various stages of development Trains 1&2 fully financed & under construction, LSTK with Bechtel Total EPC contract price 3.97 billion Trains…
  29. WOLFE TRAHAN DEEP DIVE CONFERENCE – Cheniere Energy, Inc. – slide 29
    Pro Forma CQP Ownership (in millions) CEI Blackstone Public Total Common units 12.0 - 45.1 57.1 Class B units 33.3 100.0 - 133.3 Subordinated units 135.4 - - 135.4 General partner 2% 6.6 - - 6.6 187.3 100.0 45.1 332.4 Percent of…
  30. WOLFE TRAHAN DEEP DIVE CONFERENCE – Cheniere Energy, Inc. – slide 30
    Condensed Balance Sheets As of December 31, 2012 (in millions) Cheniere Energy Other Cheniere Energy, Consolidated Cheniere Partners, L.P. Inc. (1) Energy, Inc. (2) Unrestricted cash and equivalents - 202 202 Restricted cash and…
  31. WOLFE TRAHAN DEEP DIVE CONFERENCE – Cheniere Energy, Inc. – slide 31
  32. WOLFE TRAHAN DEEP DIVE CONFERENCE – Cheniere Energy, Inc. – slide 32
    Investor Relations Contacts: Nancy Bui: Director, Finance & Investor Relations (713) 375-5280, nancy.buicheniere.com Christina Burke: Manager, Investor Relations (713) 375-5104, christina.burkecheniere.com

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