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BANK OF AMERICA ENERGY CONFERENCE – Cheniere Energy, Inc.

Cheniere Energy, Inc. · Nov 10, 2008 · 22 slides

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Slides

  1. BANK OF AMERICA ENERGY CONFERENCE – Cheniere Energy, Inc. – slide 1
    CHENIERE ENERGY Bank of America Energy Conference November 2008
  2. BANK OF AMERICA ENERGY CONFERENCE – 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. BANK OF AMERICA ENERGY CONFERENCE – Cheniere Energy, Inc. – slide 3
    Recent Developments Exited our domestic gas business and two LNG vessel time charter party agreements in April 2008 Our international LNG marketing effort remains in place Entered into our first LNG Throughput Agreement with JP…
  4. BANK OF AMERICA ENERGY CONFERENCE – Cheniere Energy, Inc. – slide 4
    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…
  5. BANK OF AMERICA ENERGY CONFERENCE – Cheniere Energy, Inc. – slide 5
    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…
  6. BANK OF AMERICA ENERGY CONFERENCE – Cheniere Energy, Inc. – slide 6
    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…
  7. BANK OF AMERICA ENERGY CONFERENCE – Cheniere Energy, Inc. – slide 7
    Estimated Future Cash Flows ( in MM) Annualized* Receipts Freeport 10-20 Distributions from CQP 255 Management fees 19 Disbursements CMI TUA Sabine Pass 252 G&A 30-40 Pipeline & tug services 10-20 Other, incl adv tax payments…
  8. BANK OF AMERICA ENERGY CONFERENCE – Cheniere Energy, Inc. – slide 8
    Historical Gas and LNG Demand by Region 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 Jun Jul…
  9. BANK OF AMERICA ENERGY CONFERENCE – Cheniere Energy, Inc. – slide 9
    LNG Liquefaction and Consumption by Region Existing Liquefaction Under Construction Proposed Liquefaction 2010 Liquefaction Capacity Atlantic Atlantic Basin Basin 2007 Consumption 11 11 Bcf/d Bcf/d 2007 2007 NA NA 2007…
  10. BANK OF AMERICA ENERGY CONFERENCE – Cheniere Energy, Inc. – slide 10
    World Liquefaction Capacity YE08 29 Bcf/d capacity 2.5 2.0 1.5 1.0 0.5 0.0 08Q3 08Q4 09Q1 09Q2 09Q3 09Q4 10Q1 10Q2 10Q3 10Q4 11Q1 11Q2 11Q3 11Q4 12Q1 12Q2 12Q3 12Q4 13Q1 13Q2 13Q3 13Q4 AB AP MEG +10…
  11. BANK OF AMERICA ENERGY CONFERENCE – Cheniere Energy, Inc. – slide 11
    Simultaneously, European Suppliers are Undertaking a Significant Expansion of Pipeline Capacity Large and Growing Piped Gas Supply Consumption 2006: 50 Bcf/d Existing Pipeline Production New Pipeline 2006: 26 Bcf/d Expansion Piped…
  12. BANK OF AMERICA ENERGY CONFERENCE – Cheniere Energy, Inc. – slide 12
    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…
  13. BANK OF AMERICA ENERGY CONFERENCE – Cheniere Energy, Inc. – slide 13
    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…
  14. BANK OF AMERICA ENERGY CONFERENCE – Cheniere Energy, Inc. – slide 14
    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…
  15. BANK OF AMERICA ENERGY CONFERENCE – Cheniere Energy, Inc. – slide 15
    Potential Supply Scenario Production Bcf/d Nameplate Capacity 37 Delivered LNG 33 Capacity Factor 88% Consumption Europe 6-8 Asia Pacific 17 - 19 Mexico/ S. America 0.5 - 1 Total Non U.S./Canada Consumption 24 - 28 Available…
  16. BANK OF AMERICA ENERGY CONFERENCE – Cheniere Energy, Inc. – slide 16
    Domestic Implications The supply scenario is independent of world prices, and is driven by an unprecedented short-term expansion in liquefaction capacity If the unprecedented growth in unconventional domestic production continues,…
  17. BANK OF AMERICA ENERGY CONFERENCE – Cheniere Energy, Inc. – slide 17
    Conclusion Natural gas price 6, 8, 10 We expect very volatile natural gas markets given the combination of nonconventional resources and LNG imports Increase in LNG imports could decrease domestic gas price,which discourages…
  18. BANK OF AMERICA ENERGY CONFERENCE – Cheniere Energy, Inc. – slide 18
    Appendix
  19. BANK OF AMERICA ENERGY CONFERENCE – Cheniere Energy, Inc. – slide 19
    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%…
  20. BANK OF AMERICA ENERGY CONFERENCE – Cheniere Energy, Inc. – slide 20
    Condensed Balance Sheet September 30, 2008 (in millions) Cheniere Energy Other Cheniere Consolidated Partners, L.P. Energy, Inc. (1) Cheniere Energy, Inc. (3) Unrestricted cash (2) -- 128 128 Restricted cash and securities 451…
  21. BANK OF AMERICA ENERGY CONFERENCE – Cheniere Energy, Inc. – slide 21
    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…
  22. BANK OF AMERICA ENERGY CONFERENCE – Cheniere Energy, Inc. – slide 22
    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…

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