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GOLDMAN SACHS GLOBAL ENERGY CONFERENCE – Cheniere Energy Partners Lp.

Cheniere Energy Partners Lp. · Jan 7, 2015 · 38 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. GOLDMAN SACHS GLOBAL ENERGY CONFERENCE – Cheniere Energy Partners Lp. – slide 1
    Cheniere Energy Goldman Sachs Global Energy Conference January 2015
  2. GOLDMAN SACHS GLOBAL ENERGY CONFERENCE – Cheniere Energy Partners Lp. – slide 2
    Summary Organizational Structure Cheniere Energy, Inc. (NYSE MKT: LNG) 80.1% Interest 100% Interest 100% Interest 100% Interest Cheniere Energy Partners Cheniere Corpus Christi Public LP Holdings, LLC Cheniere Energy…
  3. GOLDMAN SACHS GLOBAL ENERGY CONFERENCE – Cheniere Energy Partners Lp. – slide 3
    Projected Global LNG Demand Robust Growth Demand forecasted to increase by 215 mtpa to 2025, a 6% CAGR Average of 23 mtpa of new liquefaction capacity needed each year(1) Europe 24 64 90 2015 2020 2025 Asia 323 Americas…
  4. GOLDMAN SACHS GLOBAL ENERGY CONFERENCE – Cheniere Energy Partners Lp. – slide 4
    Projected Global LNG Supply U.S., Australia, Qatar Top 3 Global LNG Suppliers 2013 Global LNG Capacity: 38 Bcf/d Yemen 0.9 Egypt 1 Norway 0.5 USA 0.2 102 mtpa Russia 1.4 1.4 mtpa 2014 2025 United States Algeria 2.7…
  5. GOLDMAN SACHS GLOBAL ENERGY CONFERENCE – Cheniere Energy Partners Lp. – slide 5
    Chenieres LNG Export Projects Offering Attractive Options for Global LNG Buyers Example Prices (/MMBtu) Americas Europe Asia LNG Cost (1) 4.60 4.60 4.60 Henry Hub: 4.00 / MMBtu Brent Crude: 80 / Barrel Liquefaction Fee 3.50 3.50…
  6. GOLDMAN SACHS GLOBAL ENERGY CONFERENCE – Cheniere Energy Partners Lp. – slide 6
    Cheniere Investments Investing 30B+ for 9 LNG trains, 40.5 MTPA, 5.5Bcf/d LNG exports Sabine Pass Liquefaction 6 Train Development 27 MTPA 3.8 Bcf/d in export capacity Trains 1-4 are under construction; First LNG in late 2015…
  7. GOLDMAN SACHS GLOBAL ENERGY CONFERENCE – Cheniere Energy Partners Lp. – slide 7
    Sabine Pass Liquefaction - Brownfield LNG Export Project Utilizes Existing Assets, Trains 1-4 Fully Contracted, Under Construction Current Facility 1,000 acres in Cameron Parish, LA 40 ft. ship channel 3.7 miles from coast 2 berths;…
  8. GOLDMAN SACHS GLOBAL ENERGY CONFERENCE – Cheniere Energy Partners Lp. – slide 8
    LNG Sale and Purchase Agreements (SPAs) Sabine Pass Liquefaction 20 mtpa take-or-pay style commercial agreements 2.9B annual fixed fee revenue for 20 years BG Gulf Coast LNG Gas Natural Fenosa Korea Gas Corporation GAIL (India)…
  9. GOLDMAN SACHS GLOBAL ENERGY CONFERENCE – Cheniere Energy Partners Lp. – slide 9
    SPL Construction Completion Schedules Trains 1-4 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…
  10. GOLDMAN SACHS GLOBAL ENERGY CONFERENCE – Cheniere Energy Partners Lp. – slide 10
    Aerial View of SPL Construction December 2014 Train 3 Train 4 T1 Methane Cold Box T1 Ethylene Cold Box T2 Methane Cold Box Compressor Area T2 Ethylene Cold Box Air Coolers Train 1 Propane Condenser Area Train 2…
  11. GOLDMAN SACHS GLOBAL ENERGY CONFERENCE – Cheniere Energy Partners Lp. – slide 11
    SPL Construction December 2014 12
  12. GOLDMAN SACHS GLOBAL ENERGY CONFERENCE – Cheniere Energy Partners Lp. – slide 12
    SPL Construction December 2014 13
  13. GOLDMAN SACHS GLOBAL ENERGY CONFERENCE – Cheniere Energy Partners Lp. – slide 13
    Sabine Pass Terminal Accessible Pipeline Network Procurement of Gas Supply SPL contracting direct pipeline transport capacity Creole Trail P/L: 1.5 Bcf/d Natural Gas P/L: 0.5 Bcf/d Transco P/L: 1.2 Bcf/d Kinder Morgan LA P/L:…
  14. GOLDMAN SACHS GLOBAL ENERGY CONFERENCE – Cheniere Energy Partners Lp. – slide 14
    Corpus Christi Liquefaction Project Proposed 3 Train Facility HoustonNew Orleans 1,000 acres owned and/or controlled Corpus Christi 2 berths, 3 LNG storage tanks (10.1 Bcfe of storage) Gulf of Mexico Key Project Attributes 45 ft.…
  15. GOLDMAN SACHS GLOBAL ENERGY CONFERENCE – Cheniere Energy Partners Lp. – slide 15
    Corpus Christi Liquefaction SPAs SPA progress: 8.42 mtpa take-or-pay 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.…
  16. GOLDMAN SACHS GLOBAL ENERGY CONFERENCE – Cheniere Energy Partners Lp. – slide 16
    Corpus Christi Terminal Accessible Pipeline Network Procurement of Gas Supply CCL contracting long-term direct and upstream pipeline transport capacity Tennessee P/L: 0.3 Bcf/d KM Tejas P/L: 0.25 Bcf/d CCL purchasing natural gas…
  17. GOLDMAN SACHS GLOBAL ENERGY CONFERENCE – Cheniere Energy Partners Lp. – slide 17
    Corpus Christi Financing Update Equity Financing Commitment from EIG Management to purchase 1.5B in convertible notes from a to-be-formed wholly-owned subsidiary of Cheniere Notes would be convertible into LNG common shares after…
  18. GOLDMAN SACHS GLOBAL ENERGY CONFERENCE – Cheniere Energy Partners Lp. – slide 18
    Regulatory Approvals Needed for Corpus Christi and SPL Trains 5-6 Approvals expected 2014/15 Corpus Christi Trains 1-3 FERC: Received FERC authorization December 30, 2014 DOE: Received FTA authorization DOE: Non-FTA authorization…
  19. GOLDMAN SACHS GLOBAL ENERGY CONFERENCE – Cheniere Energy Partners Lp. – slide 19
    Applications Filed with FERC for Liquefaction Projects Continental U.S. FERC FERC Scheduled DOE Quantity FERC EIS / Under LNG Export Projects Application Scheduling Date for EIS FERC Approval Non FTA Bcf/d Pre-filing Date EA…
  20. GOLDMAN SACHS GLOBAL ENERGY CONFERENCE – Cheniere Energy Partners Lp. – slide 20
    Cheniere Marketing Cheniere developing platform for LNG sales to international markets Scale up for 5 mtpa including London, U.K. LNG purchases from Cheniere terminals and other places Short, mid-term LNG sales on FOB or DES…
  21. GOLDMAN SACHS GLOBAL ENERGY CONFERENCE – Cheniere Energy Partners Lp. – slide 21
    Innovation and Technology Lead to Robust U.S. Energy Markets Bcf/d U.S. Dry Gas Production 75 Gas production increased 25.4 Bcf/d to an all- 70 time high of 70 Bcf/d 65 60 F o NGL field production rebounded 97.2% from 55 r…
  22. GOLDMAN SACHS GLOBAL ENERGY CONFERENCE – Cheniere Energy Partners Lp. – slide 22
    Evaluating Future Investments Leverage Existing Platform Horizontal/vertical integration with liquefaction platform Hydrocarbon opportunities Domestic export infrastructure Domestic midstream opportunities International…
  23. GOLDMAN SACHS GLOBAL ENERGY CONFERENCE – Cheniere Energy Partners Lp. – slide 23
    Financial 24
  24. GOLDMAN SACHS GLOBAL ENERGY CONFERENCE – Cheniere Energy Partners Lp. – slide 24
    Estimated CEI EBITDA Build Up SPL Trains 1-6 and CCL Trains 1-3 5.0 3.3 - 4.3 CEI EBITDA ( in billions) 4.0 0.5 2.6 - 3.2 0.7 3.0 0.1 0.1 1.9 - 2.4 0.5 0.3 2.0 1.0 - 1.2 1.0 1.0 0.7 0.2 0.3 SPL Sales (T1-4) SPL CMI…
  25. GOLDMAN SACHS GLOBAL ENERGY CONFERENCE – Cheniere Energy Partners Lp. – slide 25
    CQP Outlook Visible Future Growth SPL Trains 1-6 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 2.6 ( in billions) 823 (TBtu per year) 900 2.5…
  26. GOLDMAN SACHS GLOBAL ENERGY CONFERENCE – Cheniere Energy Partners Lp. – slide 26
    Financial Strength Demonstrated ability to raise capital, multiple options available Other Cheniere Consolidated As of September 30, 2014 CQP Energy, Inc. CEI Unrestricted cash and equivalents 0 792 792 Restricted cash and…
  27. GOLDMAN SACHS GLOBAL ENERGY CONFERENCE – Cheniere Energy Partners Lp. – slide 27
    Chenieres Debt Summary As of December 2014 ( in millions) No Debt Cheniere Energy, Inc. (NYSE MKT: LNG) Cheniere Energy Partners LP Corpus Christi CQP GP Cheniere Marketing, No Debt Holdings, LLC Liquefaction, LLC (& IDRs) LLC…
  28. GOLDMAN SACHS GLOBAL ENERGY CONFERENCE – Cheniere Energy Partners Lp. – slide 28
    Appendix 30
  29. GOLDMAN SACHS GLOBAL ENERGY CONFERENCE – Cheniere Energy Partners Lp. – slide 29
    Operating Assets Sabine Pass LNG Terminal (SPLNG) Creole Trail Pipeline 31
  30. GOLDMAN SACHS GLOBAL ENERGY CONFERENCE – Cheniere Energy Partners Lp. – slide 30
    Contracted Capacity at SPLNG Third Party Terminal Use Agreements (TUAs) Long-term, 20 year take-or-pay 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…
  31. GOLDMAN SACHS GLOBAL ENERGY CONFERENCE – Cheniere Energy Partners Lp. – slide 31
    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…
  32. GOLDMAN SACHS GLOBAL ENERGY CONFERENCE – Cheniere Energy Partners Lp. – slide 32
    LSTK EPC Contracts with Bechtel Minimize Construction Costs and Risks Bechtel was the EPC contractor for the regasification project at the Why Bechtel Sabine Pass LNG terminal, which was constructed on time and on budget Proven…
  33. GOLDMAN SACHS GLOBAL ENERGY CONFERENCE – Cheniere Energy Partners Lp. – slide 33
    Timeline & Milestones Target Date SPL Corpus SPL Milestone T1-2 T3-4 Christi T5-6 Initiate permitting process (FERC & DOE) T5 Commercial agreements T1-T2 T6: 2015 EPC contract 2015 Financing commitments 2015 Regulatory…
  34. GOLDMAN SACHS GLOBAL ENERGY CONFERENCE – Cheniere Energy Partners Lp. – slide 34
    Cheniere Marketing SPA Example Annual Profit from 2 mtpa Volumes LNG Loaded Sabine Pass (Tbtu) 104 Assumptions LNG Delivered DES (Tbtu) 98 5/MMBtu Henry Hub Price Cash Flows 15/MMBtu LNG sales price, Sales delivered at terminal…
  35. GOLDMAN SACHS GLOBAL ENERGY CONFERENCE – Cheniere Energy Partners Lp. – slide 35
    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…
  36. GOLDMAN SACHS GLOBAL ENERGY CONFERENCE – Cheniere Energy Partners Lp. – slide 36
    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 45.1 344.7…
  37. GOLDMAN SACHS GLOBAL ENERGY CONFERENCE – Cheniere Energy Partners Lp. – slide 37
    39
  38. GOLDMAN SACHS GLOBAL ENERGY CONFERENCE – Cheniere Energy Partners Lp. – slide 38
    Investor Relations Contacts Randy Bhatia: Director, Finance and Investor Relations (713) 375-5479, randy.bhatiacheniere.com Christina Burke: Manager, Investor Relations (713) 375-5104, christina.burkecheniere.com

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