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JUNE 2013 CORPORATE PRESENTATION – Cheniere Energy, Inc.

Cheniere Energy, Inc. · Jun 10, 2013 · 34 slides

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Slides

  1. JUNE 2013 CORPORATE PRESENTATION – Cheniere Energy, Inc. – slide 1
    Cheniere Energy June 2013
  2. JUNE 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. JUNE 2013 CORPORATE PRESENTATION – Cheniere Energy, Inc. – slide 3
    Operating Assets Sabine Pass LNG Terminal Creole Trail Pipeline 4
  4. JUNE 2013 CORPORATE PRESENTATION – 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 253MM annual fixed fee revenue Total Gas & Power N.A. Chevron U.S.A. Inc. Capacity 1.0 Bcf/d 1.0…
  5. JUNE 2013 CORPORATE PRESENTATION – Cheniere Energy, Inc. – slide 5
    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…
  6. JUNE 2013 CORPORATE PRESENTATION – Cheniere Energy, Inc. – slide 6
    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 May 28, 2013 Brent…
  7. JUNE 2013 CORPORATE PRESENTATION – Cheniere Energy, Inc. – slide 7
    Brownfield Project Utilizes Existing Assets Trains 1-4 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 channel 3.7 miles from coast 2…
  8. JUNE 2013 CORPORATE PRESENTATION – Cheniere Energy, Inc. – slide 8
    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…
  9. JUNE 2013 CORPORATE PRESENTATION – Cheniere Energy, Inc. – slide 9
    Sabine Pass Liquefaction Stage 1 Construction
  10. JUNE 2013 CORPORATE PRESENTATION – Cheniere Energy, Inc. – slide 10
    Aerial View of SPL Construction 11
  11. JUNE 2013 CORPORATE PRESENTATION – Cheniere Energy, Inc. – slide 11
    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…
  12. JUNE 2013 CORPORATE PRESENTATION – Cheniere Energy, Inc. – slide 12
    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…
  13. JUNE 2013 CORPORATE PRESENTATION – Cheniere Energy, Inc. – slide 13
    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 distributions from contracted cash…
  14. JUNE 2013 CORPORATE PRESENTATION – Cheniere Energy, Inc. – slide 14
    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 at…
  15. JUNE 2013 CORPORATE PRESENTATION – Cheniere Energy, Inc. – slide 15
    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. 29%…
  16. JUNE 2013 CORPORATE PRESENTATION – Cheniere Energy, Inc. – slide 16
    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…
  17. JUNE 2013 CORPORATE PRESENTATION – Cheniere Energy, Inc. – slide 17
    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 mtpa nameplate capacity 2 berths 3 LNG storage…
  18. JUNE 2013 CORPORATE PRESENTATION – Cheniere Energy, Inc. – slide 18
    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 1H15 1H14 Regulatory…
  19. JUNE 2013 CORPORATE PRESENTATION – Cheniere Energy, Inc. – slide 19
    Appendix
  20. JUNE 2013 CORPORATE PRESENTATION – Cheniere Energy, Inc. – slide 20
    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…
  21. JUNE 2013 CORPORATE PRESENTATION – Cheniere Energy, Inc. – slide 21
    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…
  22. JUNE 2013 CORPORATE PRESENTATION – Cheniere Energy, Inc. – slide 22
    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…
  23. JUNE 2013 CORPORATE PRESENTATION – Cheniere Energy, Inc. – slide 23
    Regulatory Approvals Received 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 Export 2 Bcf/d Approval to export to…
  24. JUNE 2013 CORPORATE PRESENTATION – Cheniere Energy, Inc. – slide 24
    Creole Trail Pipeline In May 2013, Cheniere Partners acquired CTPL from Cheniere Energy, Inc. for 300MM cash plus 12MM Class B units (1) CTPL secured a 400 million senior secured term loan facility to fund capital expenditures CTPL…
  25. JUNE 2013 CORPORATE PRESENTATION – Cheniere Energy, Inc. – slide 25
    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…
  26. JUNE 2013 CORPORATE PRESENTATION – Cheniere Energy, Inc. – slide 26
    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…
  27. JUNE 2013 CORPORATE PRESENTATION – Cheniere Energy, Inc. – slide 27
    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…
  28. JUNE 2013 CORPORATE PRESENTATION – Cheniere Energy, Inc. – slide 28
    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…
  29. JUNE 2013 CORPORATE PRESENTATION – Cheniere Energy, Inc. – slide 29
    U.S. LNG Export Projects Quantity Company DOE FERC* Contracts (Bcf/d) Cheniere Sabine Fully 2.2 Fully permitted Pass T1 T4 Subscribed Oregon LNG FTA + Freeport 1.4 NonFTA T1-T2 Dominion Cove Fully 1.0 FTA Dominion Cove…
  30. JUNE 2013 CORPORATE PRESENTATION – Cheniere Energy, Inc. – slide 30
    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…
  31. JUNE 2013 CORPORATE PRESENTATION – Cheniere Energy, Inc. – slide 31
    Pro Forma CQP Ownership (in millions) CEI Blackstone Public Total Common units 12.0 45.1 57.1 Class B units 45.3 100.0 145.3 Subordinated units 135.4 135.4 General Partner 2% 6.9 6.9 199.6 100.0 45.1 344.7 Percent of total (as…
  32. JUNE 2013 CORPORATE PRESENTATION – Cheniere Energy, Inc. – slide 32
    Condensed Balance Sheets Pro Forma CTPL Purchase and Credit Facility (in millions) Pro Forma CTPL Purchase and As of March 31, 2013 Credit Facility Other Other Cheniere Consolidated Cheniere Consolidated CQP Energy, Inc. (1) CEI…
  33. JUNE 2013 CORPORATE PRESENTATION – Cheniere Energy, Inc. – slide 33
  34. JUNE 2013 CORPORATE PRESENTATION – Cheniere Energy, Inc. – slide 34
    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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