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December 2019 Corporate Presentation – Cheniere Energy, Inc.

Cheniere Energy, Inc. · Dec 12, 2019 · 42 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. December 2019 Corporate Presentation – Cheniere Energy, Inc. – slide 1
    CHENIERE ENERGY, INC. CHENIERE ENERGY, INC. NYSE American: LNG Corporate Presentation December 2019
  2. December 2019 Corporate Presentation – Cheniere Energy, Inc. – slide 2
    CHENIERE ENERGY, INC. COMPANY OVERVIEW
  3. December 2019 Corporate Presentation – Cheniere Energy, Inc. – slide 3
    2019 Highlights Execution Growth Financial Corpus Christi Liquefaction Increased Run-Rate Production and Guidance Positive Final Investment Decision Old New Train 1 Completed February ( billions, production mtpa per Train) DFCD…
  4. December 2019 Corporate Presentation – Cheniere Energy, Inc. – slide 4
    Vision: To Provide Clean, Secure, and Affordable Energy to the World Customer Focus Liquefaction Platform Growth Leverage expansive infrastructure footprint, Focus on long-term relationships with 13 operating expertise, and…
  5. December 2019 Corporate Presentation – Cheniere Energy, Inc. – slide 5
    Building an Industry Leading U.S. LNG Export Platform Sabine Pass Liquefaction Project 30 mtpa(1) Liquefaction Capacity Trains 1-5 operating, contracts with long-term buyers commenced Train 6 under construction, est. completion 1H…
  6. December 2019 Corporate Presentation – Cheniere Energy, Inc. – slide 6
    Integrated Platform Creates Commercial Advantage Market leading position along the value chain GAS SUPPLY LIQUEFACTION PORTFOLIO OPTIMIZATION Strong relationships, scale and diversity Best-in-class operations, economically-…
  7. December 2019 Corporate Presentation – Cheniere Energy, Inc. – slide 7
    Stable, Contracted Cash Flows from Creditworthy Customers Take or pay style long-term agreements with 5.5bn of annual fixed fees(1) All counterparties rated as investment grade by at least two of the three major agencies (S&P, Moodys,…
  8. December 2019 Corporate Presentation – Cheniere Energy, Inc. – slide 8
    Cheniere LNG Exports More Than 850 Cargoes (60 Million Tonnes) Exported from our Liquefaction Projects London, U.K. Washington, DC Beijing, China Tokyo, Japan Houston, TX Singapore Cheniere LNG Exports by Destination…
  9. December 2019 Corporate Presentation – Cheniere Energy, Inc. – slide 9
    Cheniere: A Top Global LNG Supplier and Operator Became the 4th Largest Global LNG Supplier in 2019 Construction Time: FID to Project Startup Volumes for projects existing and under construction Seven trains brought online ahead of…
  10. December 2019 Corporate Presentation – Cheniere Energy, Inc. – slide 10
    Competitive Differentiators Drive Continued Growth Over 9 mtpa of long-term deals executed since early 2018 Capitalizing on competitive strengths to provide a differentiated product and underwrite new liquefaction capacity Transaction…
  11. December 2019 Corporate Presentation – Cheniere Energy, Inc. – slide 11
    Integrated Production Marketing (IPM) Transactions Continued Innovation Driving Commercial Success: FOB + DES + IPM How IPM Works Core Principles Producers will sell natural gas to Cheniere (Corpus Christi) on a Provides producers…
  12. December 2019 Corporate Presentation – Cheniere Energy, Inc. – slide 12
    Positioned for Growth in Corpus Christi Stage 3 Corpus Christi Stage 3 FERC approval received November 2019 10 mtpa incremental liquefaction capacity Seven midscale liquefaction trains Stage 3 to share significant infrastructure…
  13. December 2019 Corporate Presentation – Cheniere Energy, Inc. – slide 13
    Cheniere Investment Thesis Premier LNG provider with substantial asset platform and proven track record of execution Full-service LNG offering enables solutions tailored to customer needs Significant, stable, long-term cash flows…
  14. December 2019 Corporate Presentation – Cheniere Energy, Inc. – slide 14
    LIQUEFACTION PROJECTS UPDATE
  15. December 2019 Corporate Presentation – Cheniere Energy, Inc. – slide 15
    Leading Project Partners Sabine Pass Liquefaction Project Corpus Christi Liquefaction Terminal Reliable Proven Partners Creditworthy Counterparties Note: SPA counterparties exclude SPAs with Cheniere Marketing which have…
  16. December 2019 Corporate Presentation – Cheniere Energy, Inc. – slide 16
    Operational Excellence Drives Asset Optimization Maintenance optimization, production optimization, and debottlenecking opportunities have led to higher expected run-rate production levels Trains Operational Run-Rate Adjusted Nominal…
  17. December 2019 Corporate Presentation – Cheniere Energy, Inc. – slide 17
    Sabine Pass Liquefaction Update Total Investment: 22B Liquefaction Operations 5 Trains in operation Increased production via maintenance optimization and debottlenecking 800 cargoes produced and exported Growth Train 6…
  18. December 2019 Corporate Presentation – Cheniere Energy, Inc. – slide 18
    Corpus Christi Liquefaction Update Total Investment: 16B Liquefaction Operations 2 Trains in Operation Increased production via maintenance optimization and debottlenecking 50 cargoes produced and exported Growth Train 3…
  19. December 2019 Corporate Presentation – Cheniere Energy, Inc. – slide 19
    LNG MARKET UPDATE
  20. December 2019 Corporate Presentation – Cheniere Energy, Inc. – slide 20
    Current LNG Market Dynamics YoY LNG Supply Growth per Quarter Europe Continued Absorbing Market Oversupply MT MT LNG Imports: Europe 14 9 12 4Q18 3Q19 Avg. 10 6 8 1Q16 3Q18 Avg. 6 4 3 2 5-Yr Range 0 2018 Q1 Q2 Q3 Q4 Q1 Q2…
  21. December 2019 Corporate Presentation – Cheniere Energy, Inc. – slide 21
    Supply Growth Continued Pressure on Market Pricing 2019 Incremental Global LNG Supply/Demand Year over Year Supply / Demand Variance 3Q 2018 vs. 3Q 2019 MT MT 14 14 Global Supply LNG Demand LNG Supply 12 Asia Demand 10 12 2.3 8…
  22. December 2019 Corporate Presentation – Cheniere Energy, Inc. – slide 22
    Europe Continuing to Absorb LNG Supply Growth LNG Imports in Europe Gas Storage in Europe Gas Power Generation in Europe MT 9 % of Full aGWh/d Germany France Italy Spain 100 2000 8 75 1500 7 50 1000 5-Yr Range 25 2019 500…
  23. December 2019 Corporate Presentation – Cheniere Energy, Inc. – slide 23
    Asian LNG Demand Markets Asia LNG Imports China Coal-Fired Power Capacity China Gas-Fired Power Capacity MT GW GW 25 Coal Capacity Gas Capacity 1200 Coal Share in Power Capacity Mix 70% 100 Gas Share in Power Capacity Mix 5.0% 90…
  24. December 2019 Corporate Presentation – Cheniere Energy, Inc. – slide 24
    Henry Hub Pricing Attractive as Domestic Production Grows Top Global LNG Suppliers Projected Growth by Basin Through December 2020 Bcf/d MT (YTD through 3Q19) 2 70 60 58 1.4 60 0.8 1 0.7 50 40 0 30 26 22 19 20 16 (0.4) 10…
  25. December 2019 Corporate Presentation – Cheniere Energy, Inc. – slide 25
    100 MTPA of Incremental LNG Supply Required by 2030 Global LNG Supply LNG Projected Demand Growth by Region 2018 to 2030 mtpa Over 230 mtpa of Demand Growth Projected mtpa 600 60 LNG Trade Forecast 52 New Supply +100 LK 500…
  26. December 2019 Corporate Presentation – Cheniere Energy, Inc. – slide 26
    CHENIERE ENERGY, INC. FINANCIAL UPDATE
  27. December 2019 Corporate Presentation – Cheniere Energy, Inc. – slide 27
    Third Quarter 2019 Results Summary Results Three Primary Financial Priorities for 2019 Highlights ( millions, except per share and LNG data) 3Q 2019 2Q 2019 YTD 2019 YTD 2018 73% of LNG volumes recognized in income in 3Q 2019 (2)…
  28. December 2019 Corporate Presentation – Cheniere Energy, Inc. – slide 28
    2019 and 2020 Full Year Guidance Full ThreeYear 2019 Financial Primary GuidancePriorities for 2019 2020 ThreeOutlook Primary Financial Priorities for 2019 ( billions, except per unit data) Stable operations with seven Trains in…
  29. December 2019 Corporate Presentation – Cheniere Energy, Inc. – slide 29
    Balance Sheet Management and Capital Allocation Update Key Achievements Three Primary Financial Priorities for 2019 Project-Level Three PrimaryDebt Maturities Financial Priorities for 2019 CQP issued 1.5B 4.50% Senior Notes due 2029…
  30. December 2019 Corporate Presentation – Cheniere Energy, Inc. – slide 30
    Run-Rate Guidance 9 Trains (2023) SPL T1-6, (bn, except per share and per unit amounts or unless otherwise noted) CCL T1-3 CEI Consolidated Adjusted EBITDA 5.2 - 5.6 Less: Distributions to CQP Non-Controlling Interest (0.9) -…
  31. December 2019 Corporate Presentation – Cheniere Energy, Inc. – slide 31
    Run-Rate Guidance: Impact of Stage 3 at Corpus 9 Trains 9 Trains 9 Trains +9CCL Trains + CCL Stage 3 Stage 3 (2023) (2023) (2026) (2026) SPL T1-6, SPL T1-6, SPL T1-6, SPL T1-6, (2) + CCL Stage+ 3CCL Stage 3 (2) xcept (b pern,…
  32. December 2019 Corporate Presentation – Cheniere Energy, Inc. – slide 32
    CEI Financial Priorities Reinvest and return capital remain focus Focused on accretive growth opportunities at Corpus Christi, starting with Stage 3 Projected returns via share repurchases is benchmark against which capital allocation…
  33. December 2019 Corporate Presentation – Cheniere Energy, Inc. – slide 33
    Capital Allocation Backdrop Unprecedented period of investment (mm) Annual EBITDA ramping Accretive brownfield opportunities remain priority 30 6,000 25BN Invested to Date 5 Mtpa Cumulative spend (bn) 25 5,000 20 Mtpa 20…
  34. December 2019 Corporate Presentation – Cheniere Energy, Inc. – slide 34
    Capital Allocation Priorities Continue to pursue accretive growth projects 1 Tie goes to growth Fund SPL Train 6 and pursue attractive debottlenecking opportunities Equity fund 50% of Corpus Christi Stage 3 once commercialized…
  35. December 2019 Corporate Presentation – Cheniere Energy, Inc. – slide 35
    Growth Investment Considerations To Reach FID Investment Framework Three Primary FinancialPrinciples Priorities for 2019 Unlevered Contracting Deleveraging CEI Economics Economics Sign creditworthy Earn attractive Ensure…
  36. December 2019 Corporate Presentation – Cheniere Energy, Inc. – slide 36
    Balance Sheet Strategy Target mid-to-high 4X consolidated debt-to-EBITDA to achieve investment grade credit ratings Focus on simple consolidated credit metrics (Debt / EBITDA) for corporate entities CEI and CQP Plan to migrate a…
  37. December 2019 Corporate Presentation – Cheniere Energy, Inc. – slide 37
    Balance Sheet Strategy (Contd.) Debt ThreeMaturity PrimaryStacks Financial Priorities for 2019 (bn) CCH/CEI (bn) SPL/CQP 10.0 10.0 CQP - Senior Bullet Notes CEI and CCH Convertible Notes SPL - Senior Bullet Notes 8.0 CCH -…
  38. December 2019 Corporate Presentation – Cheniere Energy, Inc. – slide 38
    Capital Return Strategy 1.0 billion share repurchase program authorized 3-year program began in late 2Q 2019 Total of 2.5 million shares repurchased for 159MM through 3Q 2019 Flexible to company and tax-efficient to…
  39. December 2019 Corporate Presentation – Cheniere Energy, Inc. – slide 39
    APPENDIX
  40. December 2019 Corporate Presentation – Cheniere Energy, Inc. – slide 40
    Chenieres Climate and Sustainability Principles Aiming to achieve a resilient, sustainable business model is a key part of our foundation Science Operational Excellence We promote and follow peer-reviewed We design and operate our…
  41. December 2019 Corporate Presentation – Cheniere Energy, Inc. – slide 41
    Cheniere Debt Summary Cash Balance: 2.5B(1) Cheniere CCH Holdco II, LLC Cheniere Energy, Inc. 1.6B Senior Secured Convertible Notes Cheniere Energy, Inc. 1.4B PIK Convertible Notes due 2021 (4.875%) (NYSE American: LNG) due 2025…
  42. December 2019 Corporate Presentation – Cheniere Energy, Inc. – slide 42
    CHENIERE ENERGY, INC. INVESTOR RELATIONS CONTACTS Randy Bhatia Vice President, Investor Relations (713) 375-5479, randy.bhatiacheniere.com Megan Light Director, Investor Relations (713) 375-5492, megan.lightcheniere.com

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