CHENIERE ENERGY, INC. CHENIERE ENERGY, INC. NYSE American: LNG Second Quarter 2019 Conference Call August 8, 2019
Agenda Introduction Randy Bhatia Vice President, Investor Relations Company Highlights Jack Fusco President and Chief Executive Officer Commercial Update Anatol Feygin Executive Vice President and Chief Commercial…
OPERATING AND FINANCIAL HIGHLIGHTS Jack Fusco, President and CEO
Second Quarter 2019 Operating and Financial Highlights ( in millions unless otherwise noted) Revenues Positive Final Investment Decision Reconfirm Full Year 2019 Guidance Sabine Pass Train 6 ( billions, except per unit data) 2,292…
Update on 2019 Key Priorities Safely Place Three Trains into Service Safely Execute Maintenance Turnarounds Bring trains online safely, ahead of schedule, and on budget Manage higher than average maintenance CCL Train 2 performance…
COMMERCIAL UPDATE Anatol Feygin, EVP and CCO
Supply Growth and Seasonal Trends Softened LNG Market Prices MT 2019 Incremental Global LNG Supply & Demand Global LNG Supply and Asia/Europe Import YoY Change (2Q 2019 vs. 2Q 2018)* 13 11 MT LNG Demand LNG Supply 9 16 7 5 14…
Europe Balancing the Market with Record LNG Imports European imports supported strong storage injections and incented gas power generation MT % of Full (aGWh/d) LNG Imports in Europe Gas Storage* in Europe Gas Power Generation in Europe…
Asian Demand Growth Returned in the Second Quarter Significant in-basin supply additions; Future supply additions will largely come from the U.S. MT MT mtpa LNG Imports in Asia Asia LNG Imports Variances LNG Capacity Additions 24 3.0…
FINANCIAL UPDATE Michael Wortley, EVP and CFO
Second Quarter 2019 Results Summary Results Three Primary Financial Priorities for 2019 Highlights ( millions, except per share and LNG data) 2Q 2019 1Q 2019 YTD 2019 YTD 2018 64% of LNG volumes recognized in income in 2Q 2019 (2)…
Balance Sheet Strategy Debt Maturity Stacks (bn) CCH / CEI (bn) SPL / CQP 8.0 6.7 8.0 7.0 CEI and CCH Convertible Notes 7.0 CQP - Credit Facilities 6.0 CCH - Pro Forma Note Purchase Agreement 6.0 CQP - Senior Notes 5.0 CCH -…
2019 Full Year Guidance and Capital Allocation Framework Reconfirm 2019Financial Three Primary Guidance Priorities for 2019 Capital Allocation Three Primary Framework Financial Priorities for 2019 Delivered June 3, 2019 (…
CHENIERE ENERGY, INC. CHENIERE ENERGY, INC. NYSE American: LNG Second Quarter 2019 Conference Call August 8, 2019
APPENDIX
Cheniere LNG Exports More Than 750 Cargoes (52 Million Tonnes) Exported from our Liquefaction Projects London, U.K. Washington, DC Beijing, China Tokyo, Japan Houston, TX Singapore Cheniere LNG Exports by Destination…
Substantial Asset Platform and Global Footprint Building an Industry Leading U.S. LNG Export Platform Sabine Pass Liquefaction Project 27 mtpa(1) Liquefaction Capacity Trains 1-4 operating, contracts with long-term buyers commenced…
Integrated Platform Creates Commercial Advantage Market leading position along the value chain GAS SUPPLY LIQUEFACTION PORTFOLIO OPTIMIZATION Significant natural gas consumer within the Second largest operator of liquefaction…
Competitive Differentiators Drive Continued Growth Over 8 mtpa of long-term deals executed since early 2018 Capitalizing on competitive strengths to provide a differentiated product and underwrite new liquefaction capacity Transaction…
Innovation Brings Continued Commercial Success: FOB DES IPM Integrated Production Marketing (IPM) Transaction with Apache How It Works Core Principles Apache sells 140,000 MMBtu/d of gas to CCL Stage 3 for Generates a take-or-pay…
Sabine Pass Liquefaction Project Liquefaction Trains 1-5 Trains 1 5, Supporting Infrastructure, and Trains 1 through 5 complete and in operation all on budget and ahead of schedule Regasification Assets Train 6 Under construction,…
Corpus Christi LNG Terminal CCL Project Trains 1-3 Train 2 Commissioning Train 1 achieved substantial completion in February 2019 Train 1 Train 2 passed performance test; substantial completion expected 3Q 2019 In Operation Train 3…
Cheniere Corporate Structure Cheniere Energy, Inc. (NYSE American: LNG) CQP GP Cheniere Corpus Cheniere Marketing (& IDRs) Christi Holdcos(1) Cheniere Energy Corpus Christi Cheniere Corpus Partners, L.P. Liquefaction…
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) -…
Forecasting Points Tax Assumptions Cheniere cash tax payments begin early-mid 2020s Average tax rate as percentage of pre-tax cash flow: 2020 2030: 0-5% 2031 2040: 15-20% 2020 2030 tax rate primarily due to 80% NOL limitation…
Cheniere Debt Summary Cash Balance: 2.3B(1) Cheniere Energy, Inc. Cheniere Energy, Inc. 1.0B PIK Convertible Notes due 2021 (4.875%) (NYSE American: LNG) Cheniere CCH Holdco II, LLC 1.0B Senior Secured Convertible Notes 0.6B…
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