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Investor Presentation – Cheniere Energy, Inc.

Cheniere Energy, Inc. · Apr 30, 2014 · 43 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. Investor Presentation – Cheniere Energy, Inc. – slide 1
    Cheniere Energy April 2014
  2. Investor Presentation – Cheniere Energy, Inc. – slide 2
    Summary Organizational Structure Cheniere Energy, Inc. (NYSE: LNG) 84.5% Interest 100% Interest 100% Interest 100% Interest Cheniere Energy Partners Cheniere Corpus Christi Public Cheniere Energy 15.5% LP Holdings, LLC…
  3. Investor Presentation – Cheniere Energy, Inc. – slide 3
    Projected Global LNG Demand Growth Regional LNG Import Outlook (mtpa) Europe 60 98 28 2015 2020 2030 Asia 377 Americas 256 200 20 16 19 2015 2020 2030 2015 2020 2030 Middle East/N. Africa 6 10 38 2015 2020 2030…
  4. Investor Presentation – Cheniere Energy, Inc. – slide 4
    Chenieres LNG Export Facilities Offer Attractive Pricing for Global LNG Buyers Worldwide LNG Prices = 11% to 15% of Crude Oil Regional Natural Gas & LNG Prices March 2014 MMBtu Example Prices 20 Henry Hub: 4.00 / MMBtu 18 Brent…
  5. Investor Presentation – Cheniere Energy, Inc. – slide 5
    Cheniere Liquefaction Projects 9 Trains, 31B investment, 40.5 MTPA LNG Exports (5.5Bcf/d) Sabine Pass Corpus Christi Sabine Pass Corpus T14 T12 T56 Christi T3 Estimated Cost(1) 12B 10B 6B 3B Volume (MTPA) 18.0 9.0 9.0 4.5 3rd…
  6. Investor Presentation – Cheniere Energy, Inc. – slide 6
    Brownfield LNG Export Project: Sabine Pass Liquefaction Utilizes Existing Assets, Trains 14 Fully Contracted, Under Construction Current Facility 1,000 acres in Cameron Parish, LA 40 ft ship channel 3.7 miles from coast 2 berths;…
  7. Investor Presentation – Cheniere Energy, Inc. – slide 7
    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)…
  8. Investor Presentation – Cheniere Energy, Inc. – slide 8
    SPL Construction Completion Schedules Trains 14 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…
  9. Investor Presentation – Cheniere Energy, Inc. – slide 9
    Aerial View of SPL Construction February 2014 Train 4 Train 4 Pile driving Propane Condenser Area Cold Box Area Train 2 Air Coolers Cold Box Area Train 3 Compressor Area Train 3 Condenser Foundation Propane Condenser…
  10. Investor Presentation – Cheniere Energy, Inc. – slide 10
    Corpus Christi Liquefaction Project Proposed 3 Train Facility 1,000 acres owned and/or controlled HoustonNew Orleans 2 berths, 3 LNG storage tanks (10.1 Bcfe of storage) Corpus Christi Gulf of Mexico Key Project Attributes 45…
  11. Investor Presentation – Cheniere Energy, Inc. – slide 11
    LNG Sale and Purchase Agreements (SPAs) Corpus Christi Liquefaction SPA progress: 3 mtpa takeorpay style commercial agreements 550MM annual fixed fee revenue for 20 years PT Pertamina (Persero) Endesa S.A. Annual Contract…
  12. Investor Presentation – Cheniere Energy, Inc. – slide 12
    Regulatory Approvals Corpus Christi and SPL Trains 56 DOE export approvals and FERC construction and operation approvals needed for Corpus Christi Liquefaction Trains 13 and Sabine Pass Liquefaction Trains 5&6 Corpus Christi Trains…
  13. Investor Presentation – Cheniere Energy, Inc. – slide 13
    FERC Applications Filed for Liquefaction Projects LNG Export Projects Prefiling Date Application Date FERC Scheduling Recd Approval Notice Issued Sabine Pass Liquefaction T14 July 26, 2010 Jan. 31, 2011 Corpus Christi Liquefaction…
  14. Investor Presentation – Cheniere Energy, Inc. – slide 14
    U.S. DOE Applications for LNG Exports* ** Application filed = , FERC scheduling notice issued = Date Applicant Received Expected Order to FERC Approval to Begin Date Non FTA Received be Processed (1)2 Company PreFiling Process…
  15. Investor Presentation – Cheniere Energy, Inc. – slide 15
    Timeline & Milestones Target Date SPL Corpus SPL Milestone T12 T34 Christi T56 Initiate permitting process (FERC & DOE) T1 3.0 mtpa T5 Commercial agreements 2014 T6: 2014 EPC contract 2015 Financing commitments 2014 2015…
  16. Investor Presentation – Cheniere Energy, Inc. – slide 16
    Cheniere Marketing Cheniere developing platform for LNG sale opportunities to international markets International LNG marketing operation Professional staff based in London, Houston and Santiago SPA with SPL for 2 mtpa LNG…
  17. Investor Presentation – Cheniere Energy, Inc. – slide 17
    Financial Estimates 18
  18. Investor Presentation – Cheniere Energy, Inc. – slide 18
    Estimated CEI EBITDA Build Up SPL Trains 16 and CCL Trains 13 5.0 3.3 4.5 CEI EBITDA ( in billions) 0.6 4.0 2.6 3.3 0.7 0.1 3.0 0.1 1.9 2.5 0.5 0.4 2.0 1.0 1.2 0.9 1.0 0.7 0.2 0.3 SPL Sales (T14) SPL CMI…
  19. Investor Presentation – Cheniere Energy, Inc. – slide 19
    Potential Financial Profile of CEI Cheniere development of 41 MTPA of US liquefaction capacity (9 trains) leads to EBITDA of 3.3 4.5 billion (unconsolidated) CEI level debt of 4 billion (unconsolidated) CEI share count of 268…
  20. Investor Presentation – Cheniere Energy, Inc. – slide 20
    CQP Forecasted Distributable Cash Flows CQP estimated distributable cash flows ( in millions) Trains 14 Trains 16 SPLNG distributable cash flow 370 380 SPL distributable cash flow 1,400 2,260 CTPL distributable cash flow 30 30…
  21. Investor Presentation – Cheniere Energy, Inc. – slide 21
    CQP Outlook Visible Future Growth Estimated LNG export volumes Estimated CQP revenues 1,500 4.5 4.4 1,378 1,300 4.0 1,046 3.5 3.2 1,100 2.9 939 3.0 ( in billions) (TBtu per year) 900 823 2.6 2.5 700 2.0 500…
  22. Investor Presentation – Cheniere Energy, Inc. – slide 22
    Financial Strength Demonstrated ability to raise capital, multiple options available Other Cheniere Consolidated As of December 31, 2013 CQP Energy, Inc. CEI Unrestricted cash and equivalents 0 961 961 Restricted cash and…
  23. Investor Presentation – Cheniere Energy, Inc. – slide 23
    Chenieres Debt Summary As of March 2014 ( in millions) No Debt Cheniere Energy, Inc. (NYSE: LNG) Cheniere Energy Corpus Christi CQP GP Cheniere Marketing, No Debt Partners LP Holdings, LLC Liquefaction, LLC (& IDRs) LLC (NYSE:…
  24. Investor Presentation – Cheniere Energy, Inc. – slide 24
    Appendix 25
  25. Investor Presentation – Cheniere Energy, Inc. – slide 25
    Operating Assets Sabine Pass LNG Terminal Creole Trail Pipeline 26
  26. Investor Presentation – Cheniere Energy, Inc. – slide 26
    Contracted Capacity at SPLNG Third Party Terminal Use Agreements (TUAs) Longterm, 20 year takeorpay 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…
  27. Investor Presentation – Cheniere Energy, Inc. – slide 27
    Creole Trail Pipeline In May 2013, Cheniere Partners acquired CTPL from Cheniere Energy, Inc. for 480MM, and following the sale CTPL secured a 400 million senior secured term loan facility CTPL is fully contracted with expected…
  28. Investor Presentation – Cheniere Energy, Inc. – slide 28
    LSTK EPC Contract with Bechtel Minimize Construction Costs and Risks Bechtel was the EPC contractor for the regasification project at the Why Bechtel Pass LNG terminal, which was constructed on time and on budget Proven construction…
  29. Investor Presentation – Cheniere Energy, Inc. – slide 29
    Global LNG Supply & Demand LNG Importers - Price Indexation 2013 Global LNG Capacity: 38 Bcf/d Oil Products Algeria 2.7 2013 Global LNG Demand: 31 Bcf/d Natural Gas Norway 0.5 Japan Crude Cocktail Egypt 1 Qatar 10.1 USA 0.2…
  30. Investor Presentation – Cheniere Energy, Inc. – slide 30
    Firm Liquefaction Capacity Additions (Bcf/d) Nameplate Liquefaction Capacity 39 Bcf/d as of YE 2013 53 Bcf/d by YE 2019 Bcf/d 3.00 2.75 Asia Pacific SPL T2, Gorgon T2, Petronas FLNG Atlantic Basin APLNG T2 2.50 Gladstone T1…
  31. Investor Presentation – Cheniere Energy, Inc. – slide 31
    U.S. Natural Gas Markets US Gas Consumptions vs. Production US Proved NonProducing Reserves Tcf Bcf/d US Gas Production 120 80 US Gas Consumption 69.9 70.7 100 70 66 67.1 80 113 118 110 63.3 63.8 62.7 98 60.3 86 54.5 66.0…
  32. Investor Presentation – Cheniere Energy, Inc. – slide 32
    Strategically Located Extensive Market Access to Gas Primary Gas Sources for Sabine Pass and Corpus Christi Liquefaction Conventional Gulf Coast Onshore: Barnett, Haynesville, Bossier, Eagle Ford, Fayetteville, Permian Basin, Anadarko…
  33. Investor Presentation – Cheniere Energy, Inc. – slide 33
    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 (bidirectional) Pine Prairie…
  34. Investor Presentation – Cheniere Energy, Inc. – slide 34
    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 1.8 NonFTA T1T3 FTA + Fully Lake Charles 2.0 NonFTA…
  35. Investor Presentation – Cheniere Energy, Inc. – slide 35
    CQP: SPLNG (Regas) Estimated Cash Flows SPLNG estimated cash flows ( in millions) Trains 14 Trains 16 Total 130 130 Chevron 135 135 SPL(1) 295 305 Other 10 15 Total revenues 570 585 Total expenses (70) (75) EBITDA 500 510…
  36. Investor Presentation – Cheniere Energy, Inc. – slide 36
    CQP: SPL Estimated Cash Flows SPL estimated cash flows ( in millions) Trains 14 Trains 16 Trains 14 (BG, Gas Natural, KOGAS, GAIL) 2,300 2,300 Train 5 (Total, Centrica) 590 Train 6 customer(1) 730 CMI(2) 170 220 Commodity…
  37. Investor Presentation – Cheniere Energy, Inc. – slide 37
    CCL Estimated Cash Flows Trains 13 CCL estimated cash flows ( in millions) CCL Trains 12 CCL Trains 13 Long term SPAs 1,110 1,110 (1) Short / medium term LNG sales 500 880 1,250 2,190 Commodity payments, net(2) 160 230 Total…
  38. Investor Presentation – Cheniere Energy, Inc. – slide 38
    Cheniere Marketing SPA Estimated Annual Gross Profit from 2 mtpa Volumes Assumptions LNG Loaded Sabine Pass (Tbtu) 104 5 Henry Hub Price LNG Delivered DES (Tbtu) 98 15 LNG sales price, delivered Cash Flows at terminal Sales 6%…
  39. Investor Presentation – Cheniere Energy, Inc. – slide 39
    Cheniere Marketing SPA Estimated Annual Gross Profit from 2 mtpa Sensitivities MM Gross Profit at Varying Prices Observations The intrinsic value of 104 million LNG Sales Price, /MMBtu MMBtu of LNG from Sabine Pass 10.00 15.00…
  40. Investor Presentation – Cheniere Energy, Inc. – slide 40
    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…
  41. Investor Presentation – Cheniere Energy, Inc. – slide 41
    Pro Forma CQP Ownership (in millions) CEI CQH(3) 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 6.9 192.7 100.0 45.1…
  42. Investor Presentation – Cheniere Energy, Inc. – slide 42
    43
  43. Investor Presentation – Cheniere Energy, Inc. – slide 43
    Investor Relations Contacts Randy Bhatia: Director, Finance and Investor Relations (713) 3755479, randy.bhatiacheniere.com Christina Burke: Manager, Investor Relations (713) 3755104, christina.burkecheniere.com

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