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BOML Leveraged Finance Conference – Cheniere Energy, Inc.

Cheniere Energy, Inc. · Dec 3, 2015 · 37 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. BOML Leveraged Finance Conference – Cheniere Energy, Inc. – slide 1
    Cheniere Energy, Inc. Bank of America Merrill Lynch 2015 Leveraged Finance Conference December 3, 2015
  2. BOML Leveraged Finance Conference – Cheniere Energy, Inc. – slide 2
    Executing on Strategy 2025 Forecast for CEI 60 mtpa 14% of the 9 Bcf/d total LNG market LNG by One of the largest One of the largest 2025 exporters of LNG on natural gas buyers in a global basis the U.S. 50B+ in U.S.…
  3. BOML Leveraged Finance Conference – Cheniere Energy, Inc. – slide 3
    Chenieres Key Businesses LNG GAS CHENIERE FUTURE PLATFORM PROCUREMENT MARKETING DEVELOPMENTS Four planned LNG Providing feedstock LNG sales, FOB or Developing/ terminals to be for LNG production DES, provided to investing in…
  4. BOML Leveraged Finance Conference – Cheniere Energy, Inc. – slide 4
    Projected Global LNG Demand 436 mtpa by 2025 Demand forecasted to increase by 193 mtpa to 2025, a 6% CAGR Average of 23 mtpa of new liquefaction capacity needed each year(1) Europe 31 78 92 2015 2020 2025 Asia 305 Americas…
  5. BOML Leveraged Finance Conference – Cheniere Energy, Inc. – slide 5
    U.S. Expected To Become One of the Top Three LNG Suppliers Projected LNG Liquefaction Capacity 2014 Global LNG Liquefaction Capacity: 37 Bcf/d 94 mtpa 60 mtpa 64 77 81 mtpa 68 mtpa under 31.5 mtpa mtpa 1.4 const. mtpa…
  6. BOML Leveraged Finance Conference – Cheniere Energy, Inc. – slide 6
    Cheniere LNG Platform Sabine Pass Liquefaction Live Oak LNG1 6 train development 27 mtpa 5 mtpa development (3.8 Bcf/d in export capacity) (0.8Bcf/d) Trains 15 are under construction; First LNG targeted in late 2021 First LNG…
  7. BOML Leveraged Finance Conference – Cheniere Energy, Inc. – slide 7
    Aerial View of SPL Construction August 2015 Train 6 Under Development T5 Soil Stabilization Train 5 Train 3 T3 Ethylene Cold Box T3 Methane Cold Box Train 4 T1 Methane Cold Box T1 Ethylene Cold Box Air Coolers…
  8. BOML Leveraged Finance Conference – Cheniere Energy, Inc. – slide 8
    Forecast Cheniere LNG Portfolio Summary SPL CCL CCL LO & (in MTPA) Total Total Trains 16 Trains 13 Trains 45 LLNG1 Design Capacity 27.0 13.5 40.5 9.0 10 59.5 Under Construction 22.5 9.0 31.5 In Permitting In Permitting 31.5…
  9. BOML Leveraged Finance Conference – Cheniere Energy, Inc. – slide 9
    Chenieres LNG Export Projects Underpinned with Attractive SPA Features Cheniere LNG SPAs: LNG price tied to Henry Hub, destination flexibility, upstream gas procurement services, no lifting requirements SPAs feature parent…
  10. BOML Leveraged Finance Conference – Cheniere Energy, Inc. – slide 10
    Cheniere Offers Competitive, Low Cost Source of LNG The U.S. is one of the lowest cost natural gas providers in the world U.S. liquefaction project costs are also significantly lower due to less project development needed The…
  11. BOML Leveraged Finance Conference – Cheniere Energy, Inc. – slide 11
    7train CEI cash flow estimate Current market snapshot SPL T15, CCL T12 7train CEI cash flow estimate Current market snapshot SPL T15, CCL T12 ( in billions, except for per share amounts) CQP Corpus Christi (SPL T15/SPLNG/CTPL) (CCL…
  12. BOML Leveraged Finance Conference – Cheniere Energy, Inc. – slide 12
    Estimated Market Prices Profitable for Cheniere LNG Projects Cheniere can profitably provide LNG to global buyers at attractive prices Market price sensitivity Europe LNG sale price (/MMBtu) 7.00 9.00 11.00 13.00 Implied margin…
  13. BOML Leveraged Finance Conference – Cheniere Energy, Inc. – slide 13
    Example CEI EBITDA Build Up Europe 7.50 / Asia 8.75 SPL T16, CCL T13, CCL T45, Live Oak/Louisiana LNG CEI EBITDA build up (deconsolidated) ( in billions, except for per share amounts) Runrate scenarios from 2021E to 2025E 7 trains 9…
  14. BOML Leveraged Finance Conference – Cheniere Energy, Inc. – slide 14
    Example CEI EBITDA Build Up Europe 9.50 / Asia 10.75 SPL T16, CCL T13, CCL T45, Live Oak/Louisiana LNG CEI EBITDA build up (deconsolidated) ( in billions, except for per share amounts) Runrate scenarios from 2021E to 2025E 7 trains…
  15. BOML Leveraged Finance Conference – Cheniere Energy, Inc. – slide 15
    Example CEI EBITDA Build Up Europe 11.50 / Asia 12.75 SPL T16, CCL T13, CCL T45, Live Oak/Louisiana LNG CEI EBITDA build up (deconsolidated) ( in billions, except for per share amounts) Runrate scenarios from 2021E to 2025E 7 trains…
  16. BOML Leveraged Finance Conference – Cheniere Energy, Inc. – slide 16
    Gas Procurement Sabine Pass Terminal Securing feedstock for LNG production with balanced portfolio approach To date, have entered into term gas supply contracts with producers under 17 year contracts Supply contracts cover…
  17. BOML Leveraged Finance Conference – Cheniere Energy, Inc. – slide 17
    Gas Procurement Corpus Christi Terminal CCL contracting longterm direct and upstream pipeline transport capacity Tennessee P/L: 0.3 Bcf/d KM Tejas P/L: 0.25 Bcf/d Marcellus / NGPL P/L: 0.385 Bcf/d Utica CCL purchasing natural…
  18. BOML Leveraged Finance Conference – Cheniere Energy, Inc. – slide 18
    Cheniere Marketing Cheniere platform for LNG sales short, mid, longterm sales, FOB or DES basis Scale up for 10 mtpa including LNG purchases from Cheniere terminals and London, U.K. other places Buyers & sellers of LNG cargoes…
  19. BOML Leveraged Finance Conference – Cheniere Energy, Inc. – slide 19
    Future Developments Horizontal / Vertical Integration Significant Announced Developing Total focus revenue brownfield additional on cash expected expansion at assets for flow per starting in Corpus other share as 2016…
  20. BOML Leveraged Finance Conference – Cheniere Energy, Inc. – slide 20
    Appendix
  21. BOML Leveraged Finance Conference – Cheniere Energy, Inc. – slide 21
    Investing in Cheniere Summary Organization Cheniere Energy, Inc. (NYSE MKT: LNG) Public 19.9% 80.1% Interest 100% Interest 100% Interest 100% Interest 100% Interest Cheniere Energy Partners Cheniere Corpus Christi LP…
  22. BOML Leveraged Finance Conference – Cheniere Energy, Inc. – slide 22
    Chenieres Debt Summary As of October 2015 ( in millions) Cheniere Energy, Inc. Convertible Debt 1,000 PIK Convertible Notes due 2021 (4.875%) (NYSE MKT: LNG) 625 Convertible Notes due 2045 (4.250%) Cheniere Energy Partners Trains…
  23. BOML Leveraged Finance Conference – Cheniere Energy, Inc. – slide 23
    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…
  24. BOML Leveraged Finance Conference – Cheniere Energy, Inc. – slide 24
    Sabine Pass Liquefaction Brownfield LNG Export Project Utilizes Existing Assets, Trains 15 Under Construction Current Facility 1,000 acres in Cameron Parish, LA 40 ft. ship channel 3.7 miles from coast 2 berths; 4 dedicated…
  25. BOML Leveraged Finance Conference – Cheniere Energy, Inc. – slide 25
    SPL Estimated Cash Flows Trains 15 and Trains 16 SPL estimated cash flows ( in billions) SPL Trains 15 SPL Trains 16 Long term SPAs 2.9 3.2 CMI SPA payment(1) 0.4 0.9 Commodity payments, net(2) 0.3 0.4 Total SPL revenues 3.6…
  26. BOML Leveraged Finance Conference – Cheniere Energy, Inc. – slide 26
    SPL Construction Completion Schedules Trains 1 5 BG DFCD March 2016 First LNG GN DFCD June 2016 Early Engineering KOGAS DFCD Jun 2017 April 2017 GAIL DFCD Mar 2018 Sept 2017 TOTAL & CENTRICA DFCD Dec 2019 Oct 2019…
  27. BOML Leveraged Finance Conference – Cheniere Energy, Inc. – slide 27
    LNG Sale and Purchase Agreements (SPAs) Sabine Pass Liquefaction 20 mtpa takeorpay style commercial agreements 2.9B annual fixed fee revenue for 20 years BG Gulf Coast LNG Gas Natural Fenosa Korea Gas Corporation GAIL (India)…
  28. BOML Leveraged Finance Conference – Cheniere Energy, Inc. – slide 28
    Corpus Christi Liquefaction Project Proposed 5 Train Facility HoustonNew Orleans 1,000 acres owned and/or controlled Corpus Christi Initiated 2 berths, 4 LNG storage tanks (13.5 Bcfe of storage) Gulf of Mexico Development Trains…
  29. BOML Leveraged Finance Conference – Cheniere Energy, Inc. – slide 29
    CCL Estimated Cash Flows Trains 12 and Trains 13 CCL estimated cash flows ( in billions) CCL Trains 12 CCL Trains 13 Long term SPAs 1.4 1.9 CMI SPA payment(1) 0.2 0.5 (2) Commodity payments, net 0.1 0.1 Total CCL revenues 1.7…
  30. BOML Leveraged Finance Conference – Cheniere Energy, Inc. – slide 30
    Corpus Christi Liquefaction Project Schedule Stage 1 (Trains 1&2) overall project progress as of October 2015 is ahead of target: Engineering, Procurement, and Construction has progressed to 90.3%, 34.6%, and 0.8% compared to a…
  31. BOML Leveraged Finance Conference – Cheniere Energy, Inc. – slide 31
    Corpus Christi Liquefaction SPAs SPA progress: 8.42 mtpa takeorpay style commercial agreements 1.5B annual fixed fee revenue for 20 years PT Pertamina Woodside Energy lectricit de EDP Energias de (Persero) Endesa S.A. Iberdrola…
  32. BOML Leveraged Finance Conference – Cheniere Energy, Inc. – slide 32
    Timeline & Milestones Target Date SPL Corpus Christi Milestone T14 T56 T13 T45 Initiate permitting process (FERC & DOE) T5 T1T2 Commercial agreements T6: 2015/16 T3: 2015/16 2016/2017 T5 EPC contract T6: 2015/16…
  33. BOML Leveraged Finance Conference – Cheniere Energy, Inc. – slide 33
    Live Oak and Louisiana Liquefaction Projects1 Midscale LNG projects Utilizing Bechtel/Chart Industries Technology Live Oak LNG Facility Overview 340 acres on the Calcasieu Channel, just north of Calcasieu Lake 5 mtpa development 1…
  34. BOML Leveraged Finance Conference – Cheniere Energy, Inc. – slide 34
    Applications Filed with FERC for Liquefaction Projects Continental U.S. FERC FERC FERC Scheduled DOE Quantity EIS / Under LNG Export Projects Prefiling Application Scheduling Date for EIS FERC Approval Non FTA Bcf/d EA…
  35. BOML Leveraged Finance Conference – Cheniere Energy, Inc. – slide 35
    U.S. LNG Export Projects Quantity Company DOE FERC Contracts (Bcf/d) Cheniere Sabine Fully 2.2 Fully permitted Subscribed Pass T1 T4 Fully Oregon LNG Freeport 1.8 Fully permitted Subscribed FTA + Fully Lake Charles 2.0…
  36. BOML Leveraged Finance Conference – Cheniere Energy, Inc. – slide 36
  37. BOML Leveraged Finance Conference – Cheniere Energy, Inc. – slide 37
    Investor Relations Contacts Randy Bhatia: Director, Finance and Investor Relations (713) 3755479, randy.bhatiacheniere.com Katy Cox: Senior Analyst, Investor Relations (713) 3755079, katy.coxcheniere.com

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