CHENIERE ENERGY, INC. CHENIERE ENERGY, INC. NYSE American: LNG Corporate Presentation May 2020 Inbound Vessel for 1,000th Cargo
CHENIERE OVERVIEW
Operating An Industry-Leading LNG Export Platform Premier LNG provider with substantial asset platform 2nd largest LNG operator and 4th largest LNG supplier globally in 2020 Proven track record of execution and operations…
Best-In-Class Operations Premier LNG provider with substantial asset platform Laser-focused on excellence in execution across Proven track record of execution and all facets of our business operations Significant, stable,…
Long-Term Contracts Form Foundation of Our Business Model Premier LNG provider with substantial asset platform (1) Over 5.5 billion in run-rate annual fixed-fee, Proven track record of execution and take-or-pay style revenue from…
Contract Structure Underscores Long-Lived Business Model Premier LNG provider with substantial asset Capitalizing on competitive strengths to provide a platform differentiated product and secure long-term offtake Early Volumes…
Asset Optimization and Expansions Premier LNG provider with substantial asset Maintenance/production optimization and debottlenecking platform opportunities have led to higher expected run-rate production levels Proven track record…
100 MTPA of Incremental LNG Supply Required by 2030 Premier LNG provider with substantial asset platform Over 200 mtpa of global demand growth projected by 2030 Proven track record of execution and operations mtpa 600 LNG…
COMPANY UPDATE
First Quarter Operating and Financial Highlights Revenues ( billions, except per unit data) RECONFIRMING Consolidated Adjusted EBITDA 3.8 - 4.1 2,261 2,709 FULL YEAR 2020 Distributable Cash Flow 1.0 - 1.3 GUIDANCE CQP Distribution…
Chenieres Response to COVID-19 COMPREHENSIVE SAFETY, Ensuring the health and safety of EMERGENCY RESPONSE, AND our workforce while providing for PROTECTIVE MEASURES IMPLEMENTED business continuity ENGINEERING AND OPERATIONS…
Prioritizing Corporate Responsibility Commitment to a Sustainable Future Climate and Sustainability Principles Established Board and executive-level oversight of ESG and sustainability strategy Science We promote and follow…
Cheniere LNG Exports More Than 1,100 Cargoes (75 Million Tonnes) Exported from our Liquefaction Projects Cheniere LNG Exports by Destination MT 10 8 6 4 2 0 4Q 1Q 2Q 3Q 4Q 1Q 2018 2019 2020 Europe Asia Latin America…
LIQUEFACTION PROJECTS UPDATE
Chenieres Liquefaction Platform Sabine Pass Liquefaction Project Corpus Christi Liquefaction Terminal Leading Process Technology, Equipment, EPC, and Infrastructure Providers Creditworthy Counterparties Note: SPA…
Sabine Pass Liquefaction Update Liquefaction Operations 5 Trains in operation Increased production via maintenance optimization and debottlenecking 975 cargoes produced and exported Growth Train 6 positive FID May 2019…
Corpus Christi Liquefaction Update Liquefaction Operations 2 Trains in Operation Increased production via maintenance optimization and debottlenecking 140 cargoes produced and exported Growth Train 3 under construction…
MARKET UPDATE
LNG Production Reaches New High While Virus Takes Toll on Market Global LNG Supply Variance YoY LNG Import Variances Expected FIDs 2020-2021 MT MT 1Q 2019 vs. 1Q 2020 1Q 2019 vs. 1Q 2020 mtpa Before and After Market Shocks 2.5 2.2…
EU LNG Flows Strengthen While Storage Remains at Record Levels MT Europe LNG Imports Gas Demand in European Markets Total Pipe Flows to Europe Bcf/d 10 (Bcf/d) Excluding Russian Gas to Turkey 5-Yr Range 38 60 2019 5-Yr Range 2020…
Asia Imports Up 7% as JKT and S. Asia Increase Buying Activity MT Asia LNG Imports YoY Change in Asia LNG Imports 30 MT 1Q 2019 vs. 1Q 2020 70 5-Yr Range 2019 25 68 2020 2.2 (0.9) 66 20 2.2 64 0.7 67.7 15 62 63.5 10 60…
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 52 New Supply LNG Trade Forecast LK 500 +100…
FINANCIAL UPDATE
First Quarter 2020 Financial Highlights SUMMARY RESULTS 79% of LNG volumes recognized in income in 1Q 2020 ( millions, except per share and LNG data) 1Q 2020 4Q 2019 sold pursuant to SPA or IPM agreements Revenues 2,709 3,007…
Financial Position and 2020 Guidance 4 BILLION LIQUIDITY FULL YEAR 2020 GUIDANCE Liquidity available for general corporate purposes, including cash on hand and undrawn balances under the working (1) capital facilities and revolvers…
Balance Sheet Strategy and Capital Allocation DEBT MATURITY STACKS Capital Allocation Priorities (bn) CCH/CEI 10.0 CEI and CCH Convertible Notes Continue to pursue accretive growth projects 8.0 CCH - Credit Facility Tie goes to…
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) -…
Committed to Discipline in Capital Investment Decisions Growth Capital Investment Parameters Corpus Christi Stage 3 Unlevered payback 10 years on fixed-fee contracted basis Steps remaining to reach positive Final Investment…
APPENDIX
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…
Cheniere Debt Summary Cash Balance: 2.4B(1) Cheniere CCH Holdco II, LLC Cheniere Energy, Inc. 1.3B Senior Secured Convertible Notes Cheniere Energy, Inc. 1.4B PIK Convertible Notes due 2021 (4.875%) (NYSE American: LNG) due 2025…
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